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Dave Cormack: The man who sold his business for £567million

Ebbe with Dave Cormack after ebbe has signed a new contract for a year

Picture by Amanda Gordon
Ebbe with Dave Cormack after ebbe has signed a new contract for a year Picture by Amanda Gordon

As president and CEO of Brightree, the leading business management and clinical software solution for the home healthcare market, Dave Cormack grew the business from £395,000 in annual revenues and 12 employees in 2004, to £107million in annual revenues, £45million in profit and 500 employees in 2016.

He led the sale of the business to ResMed (NYSE: RMD) for £567million in early 2016.

Cormack founded, led and sold two other notable software ventures – Soft Systems, a London-based vendor of business intelligence tools, to Atlanta-based IQ Software (NASDAQ: IQSW) in 1995, now owned by CA Technologies (NASDAQ: CA), and also MiracleWorkers.com, an Atlanta-based market leader in Internet Recruiting for the healthcare industry, sold to CareerBuilder.com in 2000.

He serves on the board of WebPT, a software solution used by 9,000 physical therapy clinics.

Through the Cormack Family Charitable Foundation, Dave and Fiona Cormack are Ambassadors for Children International www.children.org.

The Cormack Family Charitable Foundation donated £100,000 to help open Maggie’s Cancer Centre in Aberdeen.

The foundation is currently funding two new community centres in Cartagena, Colombia, serving 12,000 children in poverty.