Former Aberdeen FC chief executive scoops £567m in company sale

A former chief executive of Aberdeen Football Club has sold his stake in a US- based software company for £567 million.

Dave Cormack, who was briefly the Dons’ chief executive in 2000, is part of a management team which sold a 30 per cent stake of Atlanta-based Brightree.

The rest was owned by Battery Ventures, a Boston-based private equity firm, which has led the sale of Brightree to American medical device company ResMed.

Mr Cormack, who lives in the US but returns often to the north-east, will remain as chief executive of Brightree, which he joined as a start-up in 2005.

The healthcare software firm has an office in Aberdeen and, last year, opened an office in Glasgow.

Mr Cormack and his wife, Fiona, run their own charitable Cormack Family Foundation.

They donated £10,000 to the AFC Community Trust in 2014 and £100,000 towards the establishment of the Maggie’s centre at Aberdeen Royal Infirmary.