FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF 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 *   SILVERSTEIN JONATHAN 2. Date of Event Requiring Statement (Month/Day/Year) 05/14/2007 3. Issuer Name and Ticker or Trading Symbol INSULET CORP [PODD] (Last) (First) (Middle) 101 ENTERPRISE,, SUITE 300 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) 5. If Amendment, Date Original Filed(Month/Day/Year) (Street) ALISA VIEJO, CA 92656 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Series E Preferred Stock	  (1)	  (2)	Common Stock (3)	1,568,841 (3)	$ (3)	I	Reporting Person disclaims beneficial ownership (3) (4)

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
SILVERSTEIN JONATHAN 101 ENTERPRISE, SUITE 300 ALISA VIEJO, CA 92656	  X	Â	Â	Â

Signatures

/s/ Theresa Hope Reese For: Jonathan Todd Silverman		05/14/2007
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(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)	The Series E Preferred Stock is convertible immediately at Issuer's initial public offering.
(2)	The Series E Preferred Stock does not have an expiration date.
(3)	The Reporting Person is a partner of OrbiMed Capital GP II LLC and OrbiMed Advisors LLC. OrbiMed Capital GP II LLC is the General Partner of Caduceus Private Investments II LP and Caduceus Private Investments II (QP), LP. OrbiMed Advisors LLC is a member of the Managing Member of UBS Juniper Crossover Fund, L.L.C. Caduceus Private Investments II LP, Caduceus Private Investments II (QP), LP and UBS Juniper Crossover Fund, L.L.C directly hold 1,047,028, 392,028, and 129,785 shares of Series E Preferred Stock, respectively. Series E Preferred Stock is convertible into Insulet Corporation Common Stock upon a 1-to-1 basis with a 1-for-2.6267 reverse stock split, to be effective upon the closing of the Issuer's initial public offering. The underlying shares in Table II do not reflect the 1-for-2.6267 reverse stock split.
(4)	The Reporting Person disclaims beneficial ownership except to the extent of their pecuniary interest. The report shall not be deemed an admission that the Reporting Person is a beneficial owner for the purpose of Section 16 of the Exchange Act of 1934, as amended, or for any other purpose.

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