Boston Millennia Partners III, L.P.

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1 2012: A Year of Portfolio Growth In an economic market that continues to be uncertain, Boston Millennia Partners achieved strong progress in positioning its portfolio companies for success and optimal exit transactions. While the overall U.S. economy grew at about 2%, since 2010 the revenue generating BMP II portfolio companies have grown at an annual rate of 20%, and the BMP III portfolio companies have grown at almost 30%. This growth resulted from organic expansion as well as from completing several significant add-on acquisitions which were consistent with our Core Strategy. Boston Millennia Partners III, L.P. Our most recent fund, Boston Millennia Partners III ("BMP III"), formed to invest in late stage growth companies, has completed four investments to date, with an additional investment scheduled to close shortly. The Fund is seeking consolidation platforms that offer liquidity opportunities within a five year period. This approach has been consistently effective for our investors for more than 20 years. Investment Criteria The Fund is seeking companies which are at or near profitability. Pharmaceutical services, outsourcing providers, technology-enabled business services companies, and health care related opportunities are some of the primary targets for investment. Eastern United States headquarters location preferred. Specific areas of interest include: Companies in the healthcare and healthcare services industries including the HIT and pharmaceutical services areas Business process outsourcing and SaaS companies with recurring revenues Minority and control transactions that require between $3M and $15M of capital to accelerate organic growth, fund acquisitions or restructure existing ownership Management spinouts from larger corporate entities Portfolio Company Highlights Existing portfolio companies from our Partnerships achieved several significant milestones last year. Odyssey Logistics & Technology Corporation has integrated nine acquisitions to date and continues its strategic acquisition program. Since 2010, it has grown revenues by more than 90%. PreCision Dermatology, Inc. more than doubled its annual revenue with the acquisition of TRIAX Pharmaceuticals. Arthrosurface, Inc. entered the Latin American market with its initial sales into Brazil. Its minimally invasive joint repair system is now implanted in more than 40,000 patients. CardioMEMS, Inc., our implantable cardiac sensor company, has completed its clinical review and audit and will be submitting its results to the FDA in early MedAptus, Inc., our revenue cycle management company for healthcare providers, achieved profitability and is growing at 35% annually. For the third year in a row the company earned first place in the prestigious KLAS awards for mobile applications in the health care sector. Histogenics Corporation raised $49M, which will fund its clinical trial program in the Our Firm Our Team Our Portfolio Latest News Boston Millennia Partners is a private equity investment partnership managing over $700 million in capital. From its offices in Boston, Millennia invests in high-growth business in healthcare and business services industries. Typical investments range from $3 to $15 million. The managers at Millennia have funded over 120 companies in the U.S. private equity market since Significant portfolio companies with whom they have invested include Athenix/Bayer CropScience, a subsidiary of Bayer AG (BAYN GR), PAREXEL International (NASDAQ-GS: PRXL), GlycoFi/Merck (NYSE: MRK), Galt/Cerner (NASDAQ-GS: CERN), ILEX Oncology/Genzyme Oncology (NASDAQ-GS: GENZ),Verio/NTT (NYSE: NTT), HotJobs/Yahoo (NASDAQ-GS: YHOO), Proteome/Incyte Genomics (NASDAQ-GM: INCY) and P&H Solutions/ACI Worldwide NASDAQ-GS: ACIW), among others. For more information, please visit Contact: Amy Merk Boston Millennia Partners amy@bmpvc.com Boston Millennia Partners 30 Rowes Wharf Suite 400 Boston, MA Phone: Fax:

2 orthopedic space. Histogenics has been named to the â œfierce 15â list for most interesting technology companies. PAREXEL International Corporation acquired pharmaceutical reimbursement company Liquent Inc. for $72M. This was the companyâ s 40th acquisition. From a start-up when we first invested years ago, the company now employs 15,000 people and has a backlog of over $5B. Exa Corporation, a technology company from a previous BMP manager fund, achieved a successful IPO, and the fundâ s shares in Exa have been distributed to the fund's partners. PHT Corporation, a provider of clinical trial electronic data capture and analytics systems, increased revenue by more than 25%, achieving record revenues and profitability. Exit Event Stock Price Range: $ $12.19 Founded in 1991, Exa is a developer of simulation software services that vehicle manufacturers use to enhance performance of their products and improve efficiency of the design and engineering process. On June 28th, 2012 Exa had its initial public offering, selling 6,250,000 shares at an offering price of $10 per share. Although it was a long wait from the initial investment, committed management combined with great technology eventually rewarded Exaâ s investors. Portfolio Activity Odyssey Logistics acquires Interdom Partners Odyssey Logistics & Technology Corp. (OL&T), a leading global logistics and transportation service provider, acquired Interdom Partners, one of the largest railway intermodal companies in the U.S. The company is growing rapidly, and now employs over 700 people globally. The OL&T network continues to expand throughout North America, Europe and Asia, and serves all modes of transport. The company manages over $60B in product value that is transported between 185,000 destinations across more than 150,000 transportation lanes and 250 worldwide ports.

3 PreCision Dermatology acquires Triax Pharmaceuticals In April 2012, PreCision acquired the assets of Triax Pharmaceuticals LLC, a specialty pharmaceutical company with a range of branded prescription dermatology products. These medications complement and broaden PreCisionâ s Onset Dermatology offering of high quality branded Rx products. This acquisition substantially improves PreCision's market position in this rapidly growing segment of the skincare market and enhances its leadership position in atopic dermatitis and acne. In addition to improving the product footprint and enhancing the companyâ s scale, this transaction also demonstrates that PreCision has both the capabilities and platform for additional strategic growth. CardioMEMS works for FDA approval CardioMEMS is working with the FDA to complete further analyses of existing data from the Phase III trial of CardioMEMSâ heart failure system. The CHAMPION Trial met its primary endpoint of reducing heart failure hospitalizations as well as its secondary endpoints. Heart failure hospitalizations remain a major public health problem and hospitals with excessive hospitalizations have been targeted by CMS with financial penalties. Boston Millennia Partners has helped build the company since the its first institutional investment round in Collegium Pharmaceutical closes $22.5M investment round In February, Collegium, our specialty drug development company, announced the closing of a $22.5M equity round, which will support the execution of the Phase III trial for the Company's tamper-resistant, extended-release oxycodone product which utilizes Collegiumâ s proprietary DETERx technology. Collegium intends to complete all required development activities and file an NDA by the end of Histogenics raises $49M round to fund clinical trial Histogenics, our regenerative medicine company, closed a $49M round of financing to fully fund the remainder of the NeoCart Phase III clinical trial. In May 2012, Histogenics presented intermediate data supporting the potential efficacy of the NeoCart product. The financing of the NeoCart Phase III clinical trial indicates the strong interest for innovative solutions in the regenerative medicine space. MedAptus experiences continued growth In 2012, MedAptus, our revenue cycle solutions company, achieved a year-over-year revenue increase of more than 30%. The company secured multi-year renewals from a number of enterprise customers, and added several new provider organizations to its rapidly expanding customer base. MedAptus now has over 12,000 clinicians and associated staff using its charge capture and charge management applications.

4 For the third consecutive year MedAptus was named the Mobile Data Systems Category Leader in the KLAS "Top 20 Best in KLAS Awards: Software & Services" report. MedAptus' top-ranking score is based on positive customer feedback across 25 measures evaluating performance in areas such as product quality, implementation, and support. During 2012, MedAptus also launched an advanced revenue cycle reporting and performance analytics package that helps drive improved financial performance for customers. The company has already seen this new capability contribute to its competitive strength in the revenue cycle management space. The upcoming regulatory mandate of ICD-10 adoption for medical coding and billing processes has been another strong focus for MedAptus in The company recently released the ICD-10 version of its charge management solution. At MedAptusâ annual customer conference last month in Boston, customers enthusiastically received the solution suiteâ s new code selection and search functionality as well as its dual ICD-9 and ICD-10 coding capabilities and workflow design. The new solutionâ s early availability will help support a wide range of customer transition strategies and should provide a solid foundation for continued MedAptus revenue growth. Arthrosurface exceeds 40,000 patient implants Arthrosurface develops and distributes orthopedic resurfacing products to repair articular damage of the major joints, including knees, hips, toes and shoulders. To date, more than 40,000 Arthrosurface devices have been implanted. The products are designed for middle-aged and active seniors who have either significant cartilage damage or early arthritis. The products are designed to preserve the existing joint anatomy, maintain normal biomechanics and are primarily performed on an outpatient basis. The patients have a quicker recovery as their existing anatomy is restored rather than replaced with artificial implants. Arthrosurface is in an ideal position to bridge the gap between early biological treatments and end stage joint replacements. Boston Millennia Partners is the sole institutional investor in Arthrosurface. Nexidia's growth continues Nexidia has released a number of new products this year. In June, Nexidia rolled out a â œliteâ option called Interaction Analytics, a version of Nexidia that can reach the higher end of the call center market and offer advanced business intelligence capabilities. In September Nexidia announced the availability of Next-Generation Interaction Analytics Software, an enhanced version of its contact center analytics software. Speech Technology magazine has named the company the 2012 Market Winner in Speech Analytics. This marks the sixth consecutive time the company has earned this recognition. Previous Portfolio Company and Strategic Partner Update

5 NASDAQ:PRXL PAREXEL recently acquired software company Liquent. Its software solution is used by biopharmaceutical and life science companies to manage regulatory submission and product registrations. The acquisition will expand PAREXELâ s consulting services to biotech and medical device companies. PAREXEL has recently announced the launch of its new PAREXEL BioPharm Unit. The unit is concentrated on the needs of small and mid-sized biopharmaceutical companies. PAREXEL currently has a market capitalization of $2 billion. Summary Of Milestones

6 We hope you will keep us in mind should an investment opportunity arise that fits our criteria. For more information about Boston Millennia Partners, please visit our website at or call us any time. We look forward to connecting with you over the coming months and wish you the very best for an exceptional 2013! Dana Callow Bruce Tiedemann Clodagh Hoey Marty Hernon Will degroot Amy Merk Rob Jevon Frank Silva Emily Snyder Pat Fortune Rob Sherman Liz Callow Edward Wronsky 2013 Boston Millennia Partners All Rights Reserved