Michael Cleary Joins Tullis Health Investors as Director of Investor Relations and Marketing

Seasoned PE Executive a Great Fit for Leading Healthcare VC

PALM BEACH GARDENS, Fla., March 19, 2013-- Tullis Health Investors (“Tullis”), a private equity and venture capital fund manager which oversees a family of funds focused on investments in biotech, pharmaceutical, medical device, medical service and other healthcare companies, announced today the appointment of Michael (“Mike”) Cleary as Director of Investor Relations and Marketing.

Prior to joining Tullis Health Investors, Mr. Cleary was a Managing Director with Equus Financial Consultants & Crossbay Capital Partners. Previously, he was a Managing Director in the private funds group at JP Morgan/Bear Stearns, raising third party private equity and real estate funds from institutional and high net worth investors. Prior to that, Mr. Cleary was a General Partner and Executive Director with BNY Mellon-West LB Asset Management, where he was also a member of the investment committee, head of U.S. sales and marketing, and a deal team leader for fund investments as well as co-investments. Mr. Cleary was previously a Managing Director at Thomas Capital Group, a boutique private equity placement firm. Prior to that, Mr. Cleary was Director of Global Private Equity at Russell Investment Group. Mr. Cleary was also a Senior Investment Officer at the Virginia Retirement System (“VRS”) where he co-managed and built a $3 billion global private equity program, subsequent to serving as Controller, Investment Accounting, Operations and General Accounting Manager. Prior to joining VRS, Mr. Cleary was an Assistant Vice President of Finance and Accounting at Wheat, First Securities, and also served at the Dreyfus Corporation as Senior Fund Accountant. Mr. Cleary is a Certified Public Accountant.

Mr. Cleary brings over 30 years of diversified investment and financial experience in the private equity sector as a general partner, executive director, limited partner and private equity portfolio manager. He has spent the past 18 years of his career in the US and international private equity markets, and maintains a significant network of institutional investors, partners, consultants, advisors and intermediaries with whom he will continue to work closely.

Mr. Cleary has served on numerous limited partnership advisory boards and investment advisory committees and has held various board positions in private companies and co-investments. He was also one of the original founding members of the Institutional Limited Partners’ Association (“ILPA”), which today represents a significant number of institutional investors on a global basis.

“I am extremely excited to be joining Tullis Health Investors at this time, and contributing to its success and its expansion in the rapidly growing and dynamic healthcare sector worldwide. Healthcare spending is now 17% of US GDP and continues to grow. We anticipate significant changes in the US healthcare delivery model with many opportunities for profitable investing. Our population is aging, our technology is continuing to advance, and our needs for healthy solutions and for effective and cost efficient solutions have never been greater. I believe Tullis is well positioned, with its track record of successful investing in the healthcare industry, its team of experienced investment personnel and its broad connections and unique perspectives,” said Mr. Cleary.

"Mike's extensive and varied background should be a great complement to Tullis,” said Tullis founder and CEO Jim Tullis. “He brings broad insights, as a CPA, having been controller of a large pension organization, then working as a limited partner when he managed alternative investments at VRS, and still later being a general partner in a successful fund-of-funds. Mike also has extensive relationships throughout the investment community and valuable perspectives, reflecting his role as a co-founder of ILPA. Mike will lead investor relations and marketing at Tullis, which will be a great fit given his many strengths. We look forward to his contributions to our team and to our investors."

About Tullis Health Investors

Tullis Health Investors manages a family of funds and investments focused exclusively in healthcare. Tullis has been a pioneer in healthcare-focused venture and growth capital, successfully investing in all major sub-sectors of the healthcare industry over the firm’s more than 25-year history.

Tullis raised its most current fund in 2010. Recent investments include Sirion Therapeutics, Vidacare, Coherex Medical, Endoscopic Technologies, Vital Access, Valeritas, SafeOp Surgical, and Exagen Diagnostics. More information can be found at www.tullisfunds.com.

Contact:
Tullis Health Investors
Darlene Franzé, 203-323-4300
info@tullisfunds.com

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