Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
HEALTHCARE VENTURES VI LP
  2. Issuer Name and Ticker or Trading Symbol
REPLIDYNE INC [RDYN]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
HEALTHCARE VENTURES LLC, 44 NASSAU STREET
3. Date of Earliest Transaction (Month/Day/Year)
07/03/2006
(Street)

PRINCETON, NJ 08542
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 07/03/2006   C   3,166,863 A $ 0 (1) 3,463,102 (2) I (3) and Direct

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Series A Convertible Preferred $ 0 (4) 07/03/2006   C     8,250,300   (4)   (4) Common Stock 8,250,300 (4) $ 0 (4) 0 I (1) and Direct
Series C Convertible Preferred $ 0 (5) 07/03/2006   C     7,280,001   (5)   (5) Common Stock 7,280,001 (5) $ 0 (5) 0 I (1) and Direct

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
HEALTHCARE VENTURES VI LP
HEALTHCARE VENTURES LLC
44 NASSAU STREET
PRINCETON, NJ 08542
    X    
HEALTHCARE PARTNERS VI LP
HEALTHCARE VENTURES LLC
44 NASSAU STREET
PRINCETON, NJ 08542
    X    
CAVANAUGH JAMES H
HEALTHCARE VENTURES LLC
44 NASSAU STREET
PRINCETON, NJ 08542
    X    
LITTLECHILD JOHN W
55 CAMBRIDGE PARKWAY
SUITE 301
CAMBRIDGE, MA 02142
    X    
WERNER HAROLD R
HEALTHCARE VENTURES LLC
44 NASSAU STREET
PRINCETON, NJ 08542
    X    
Mirabelli Christopher
55 CAMBRIDGE PARKWAY
SUITE 301
CAMBRIDGE, MA 02142
    X    
AGUIAR ERIC
HEALTHCARE VENTURES LLC
44 NASSAU STREET
PRINCETON, NJ 08542
    X    
CROUSE WILLIAM W
HEALTHCARE VENTURES LLC
44 NASSAU STREET
PRINCETON, NJ 08542
    X    

Signatures

 /s/Jeffrey Steinberg, Administrative Partner, HealthCare Ventures VI, L.P.   07/03/2006
**Signature of Reporting Person Date

 /s/Jeffrey Steinberg, Administrative Partner for HealthCare Partners VI, L.P.   07/03/2006
**Signature of Reporting Person Date

 /s/Jeffrey Steinberg, Attorney-in-Fact for James H. Cavanaugh   07/03/2006
**Signature of Reporting Person Date

 /s/Jeffrey Steinberg, Attorney-in-Fact for John Littlechild   07/03/2006
**Signature of Reporting Person Date

 /s/Jeffrey Steinberg, Attorney-in-Fact for Harold Werner   07/03/2006
**Signature of Reporting Person Date

 /s/Jeffrey Steinberg, Attorney-in-Fact for Christopher Mirabelli   07/03/2006
**Signature of Reporting Person Date

 /s/Jeffrey Steinberg, Attorney-in-Fact for Eric Aguiar   07/03/2006
**Signature of Reporting Person Date

 /s/Jeffrey Steinberg, Attorney-in-Fact for William Crouse   07/03/2006
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Not Applicable
(2) Includes 296,239 shares of the Issuer's common stock issued to HealthCare Ventures VI, L.P. ("HCVVI") in satisfaction of accumulated dividends on the Reporting Person's Series A and Series C Convertible Preferred Stock.
(3) These securities are owned by HCVVI. These securities are indirectly beneficially owned by HealthCare Partners VI, L.P. ("HCPVI"), the General Partner of HCVVI, and each of James Cavanaugh, Harold Werner, John Littlechild, Christopher Mirabelli, Augustine Lawlor, William Crouse and Eric Aguiar, the general partners of HCPVI. Drs. Cavanaugh, Mirabelli and Aguiar and Messrs. Werner, Littlechild, Crouse and Lawlor disclaim beneficial ownership of those securities in which they do not have a pecuniary interest and this report shall not be deemed an admission that they are the beneficial owners of these securities for purposes of Section 16 except to the extent of their pecuniary interest therein.
(4) These securities automatically converted into 1,682,361 shares of the Issuer's Common Stock on July 3, 2006, the closing of the initial public offering of the Issuer. The conversion of the Series A Convertible Preferred Stock gives effect to the Issuer's 1 for 4.904 reverse stock split.
(5) These securities automatically converted into 1,484,502 shares of the Issuer's Common Stock on July 3, 2006, the closing of the initial public offering of the Issuer. The conversion of the Series C Convertible Preferred Stock gives effect to the Issuer's 1 for 4.904 reverse stock split.

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