Paul Capital expands healthcare team

The addition of Lara Sullivan to the team follows the appointment of new partner John Leone and the departure of three partners.

Paul Capital Partners has hired Lara Sullivan to join its healthcare team as a principal. She will be based out of the firm’s New York office and will begin work on April 23.

Sullivan has medical and business degrees from the University of Pennsylvania. She comes to Paul Capital from management consulting firm McKinsey and Company, where she was an associate principal on the pharmaceutical and medical products team.

The addition of Sullivan to the healthcare team follows the hiring of John Leone as the team’s newest partner earlier this month. Leone joined the firm from a position as the president and chief executive officer of life sciences firm Cambrex.

Three partners recently decided to leave the group. Todd Davis and Clarke Futch left the firm to launch Cowen Healthcare Royalty Partners, a division of the investment bank Cowen Group. Gregory Brown will join Davis and Futch in October.

Paul Capital’s healthcare fund has about $1.4 billion in assets under management. It has made about $850 million worth of investments in the pharmaceutical, biotechnology and medical device industries. The firm’s second fund closed at $650 million in 2003.