HBM Healthcare Investments : NAV Key Figures as at 15 January 2015 / Comment on the impact of foreign exchange rates

NOT FOR DISTRIBUTION IN THE USA, CANADA, JAPAN OR AUSTRALIA

Media Release

Zug, 16 January 2015

HBM Healthcare Investments: NAV Key Figures as at 15 January 2015 / Comment on the impact of foreign exchange rates

Net Asset Value (NAV) per share 15.01.2015 31.12.2014 +/‐ in %

in CHF CHF	121.07	CHF	137.50	‐11.9%
in USD	USD	144.27	USD	138.29	4.3%
in GBP	GBP	95.02	GBP	88.78	7.0%
in EUR	EUR	124.02	EUR	114.31	8.5%

Net Assets in CHF million 933.1 1'062.6

Comment on the impact of foreign exchange rates

The decision of the Swiss National Bank (SNB) to repeal the minimum exchange rate of CHF 1.20 to the Euro had a significant negative effect on the published net asset value per share (NAV) in Swiss Francs (reporting currency) as at 15 January 2015.
HBM Healthcare Investments has hedged on 7 January 2015 the entire Euro currency risk through forward sale of EUR 100 million at a price of 1.19. The position remains hedged until further notice.

HBM Healthcare Investments Ltd

Bundesplatz 1 CH-6300 Zug | Tel: [phone] | Fax: [phone] | [e-mail] www.hbmhealthcare.com

NOT FOR DISTRIBUTION IN THE USA, CANADA, JAPAN OR AUSTRALIA

The currency risk of the US Dollar and other currencies was and remains not hedged. HBM Healthcare Investments expects the Swiss Franc to weaken against these currencies over the coming months.
The NAV as per the cut-off date 15 January 2015 is calculated on the basis of the following foreign exchange rates:

% of NAV Foreign exchange rates 15.01.2015 31.12.2014 +/‐ in % as at 31.12.

CHF per 1 USD	0.8392	0.9943	‐15.6%	59.6%
CHF per 1 GBP	1.2742	1.5488	‐17.7%	12.5%
CHF per 1 EUR	0.9762	1.2029	‐18.8%	10.5%

For further information, please contact Dr Andreas Wicki, tel.: [phone], [e-mail]

Information on HBM Healthcare Investments Ltd

HBM Healthcare Investments invests in the healthcare sector. The Company holds and manages an international portfolio of some 25 promising companies in the human medicine, biotechnology, medical technology and diagnostics sectors, and related areas. Many of these companies have their lead products already available on the market or at an advanced stage of development. The portfolio companies are closely tracked and actively guided in their strategic direction. This is what makes HBM Healthcare Investments an interesting alternative to investments in big pharma and biotechnology companies. HBM Healthcare Investments has an international shareholder base and is listed on SIX Swiss Exchange (ticker: HBMN).

Disclaimer

This media release does not constitute an issue prospectus within the meaning of Art. 652a or Art. 1156 of the Swiss Code of Obligations, a listing prospectus in the sense of the SIX Swiss Exchange Listing Rules or

HBM Healthcare Investments Ltd

Bundesplatz 1 CH-6300 Zug | Tel: [phone] | Fax: [phone] | [e-mail] www.hbmhealthcare.com

NOT FOR DISTRIBUTION IN THE USA, CANADA, JAPAN OR AUSTRALIA

a securities prospectus as defined in the German Securities Prospectus Act (Wertpapierprospektgesetz). Publication is for information purposes only and constitutes neither an offer to sell nor an invitation to buy or subscribe for securities. This media release and the information it contains must not be distributed or forwarded to or within the United States of America (USA) or to US persons (including legal entities) or publications with a general circulation in the USA. This media release does not constitute an offer or invitation to purchase any securities in the USA. The securities of HBM Healthcare Investments Ltd have not been registered under United States securities legislation and may not be offered, sold or delivered within the USA or to US persons without prior registration or the corresponding exemption from the registration

requirements of US securities legislation.

HBM Healthcare Investments Ltd

Bundesplatz 1 CH-6300 Zug | Tel: [phone] | Fax: [phone] | [e-mail] www.hbmhealthcare.com