Arsenal adds partner to healthcare team

The New York-based mid-market firm has hired co-founder of Merrill Lynch Capital Partners Stephen McLean to bolster its healthcare practice.

Arsenal Capital Partners has named Stephen McLean as a new partner on the firm’s seven-member healthcare team. McLean will lead the sourcing, evaluation and management of investments as well as advise on sector strategy.

A founding partner of Merrill Lynch Capital Partners and its successor funds, McLean has been an active investor in the healthcare industry for the past 13 years, focusing on life sciences, medical devices and information services.

Stephen McLean

“[Steve] has deep expertise investing in the healthcare sector,” said Arsenal partner Terrence Mullen in a statement. “We have focused on the healthcare sector since our founding in 2000,” he said.

McLean’s healthcare experience includes having been a founding investor and director of Agencourt Bioscience Corporation, which provides nucleic acid purification products and genomic services for life science research, and Agencourt Personal Genomics, a developer of genetic analysis technologies.

Prior to helping found Merrill Lynch Capital Partners in 1984, McLean was a managing director of Stonington Partners and Arena Capital Partners. He began his career in the mergers & acquisitions department at Merrill Lynch in 1980.

Healthcare, financial services and specialty industrial-focused Arsenal was founded in 2000 by Mullen and Barry Siadat, formerly of AlliedSignal/Honeywell International. Siadat left Arsenal in 2007 to form specialty chemicals-focused private equity firm Valence Group.