Healthcare veteran Colin Shannon has joined Menlo Park, Calif-based Patient Square Capital as senior advisor.
Patient Square Capital is a dedicated healthcare investment firm launched by KKR Veteran Jim Momtazee in 2020. The firm focuses on best-in-class management teams whose products, services and technologies improve health. Reportedly, the team is targeting up to $4 billion for its first fund.
“Colin is one of the most talented executives with whom I have ever worked, and I am personally thrilled to be working with him again,” said Momtazee, Managing Partner of Patient Square. “His proven track record as an operator, talent developer and strategic thinker at hugely successful healthcare organizations will bring an important additional perspective in our assessment of new investment opportunities and in creating value in the companies in which we invest.”
Previously, Shannon was chairman and CEO at global contract research organization PRA Health Sciences (formerly PRA International). During his tenure at the firm, the revenue of the company grew over seven-fold from less than $460 million to over $3.3 billion.
“I am a huge believer in Patient Square’s approach to partnering with innovative companies that will have a meaningful impact and improve the lives of patients,” said Shannon. “I look forward to collaborating with the team to support their efforts to invest and grow companies.”
Before working at PRA Health Sciences, Shannon was a Pharmaceutical Product Development, where he held various executive roles, including executive vice president of global clinical operations. Other roles were chief operating officer for European operations, vice president and chief financial and administrative officer for international operations and executive director and chief financial officer for Europe.