H&Q Healthcare Investors ("HQH") is a broadly diversified closed-end healthcare fund traded on the New York Stock Exchange under the ticker HQH. HQH primarily invests in biotechnology, medical devices, and pharmaceuticals. The Fund's objective is to provide long-term capital appreciation through investments in companies in the health technology industries believed to have significant potential for above-average long-term growth. Selection will emphasize the smaller, emerging companies with a maximum of 40% of the Fund's assets in restricted securities of both public and private companies. Management believes this provides a unique opportunity not usually available to mutual fund investors.