Nuwellis, Inc. — Director's Dealing 2012

Feb 28, 2012

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: Sunshine Heart, Inc. (SSH)
CIK: 0001506492
Period of Report: 2012-02-14

Reporting Person: GBS Venture Partners Pty, Ltd (10% Owner)
Reporting Person: GBS Bioventures II A/C (10% Owner)
Reporting Person: GBS Bioventures III A/C (10% Owner)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	379596	Indirect
Common Stock	815165	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Common Stock Warrant (right to buy)	$6.5114	2014-12-08	Common Stock (79083)		Indirect
Common Stock Warrant (right to buy)	$6.5114	2014-12-08	Common Stock (169826)		Indirect

Footnotes

F1: Represents securities held directly by GBS Bioventures II A/C. Dr. Geoffrey Brooke is a managing director of GBS Venture Partners Pty, Ltd. which manages GBS Bioventures II A/C. Dr. Brooke, a director of the Issuer, shares voting and investment power with another partner and may be deemed to be an indirect beneficial owner of the reported securities. Dr. Brooke disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest. This report shall not be deemed an admission that Dr. Brooke is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

F2: Represents securities held directly by GBS Bioventures III A/C. Dr. Geoffrey Brooke is a managing director of GBS Venture Partners Pty, Ltd. which manages GBS Bioventures III A/C. Dr. Brooke, a director of the Issuer, shares voting and investment power with another partner and may be deemed to be an indirect beneficial owner of the reported securities. Dr. Brooke disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest. This report shall not be deemed an admission that Dr. Brooke is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

F3: Immediately exercisable.