The Irish Times Business Person of the Month: Ken Cahill

Sale of SilverCloud Health nets CEO and fellow founders €23m

Ken Cahill, co-founder and chief executive of SilverCloud Health, has been chosen as The Irish Times Business Person of the Month for July, an award run in association with Bank of Ireland.

Ken Cahill, co-founder and chief executive of SilverCloud Health, has been chosen as The Irish Times Business Person of the Month for July, an award run in association with Bank of Ireland.

 

Ken Cahill, co-founder and chief executive of SilverCloud Health, has been chosen as The Irish Times Business Person of the Month for July, an award run in association with Bank of Ireland.

This follows the sale of the Irish tech company last month to Amwell, a leading telehealth platform in the United States with more than 80 million customers.

The sale price was not publicly disclosed but informed sources suggest Amwell agreed to pay in excess of $250 million (€214 million) for SilverCloud Health. That would suggest a payday of about €23 million for Mr Cahill and his fellow founders, James Bligh, Karen Tierney, Dr John Sharry and Gavin Doherty.

Health platform

The Dublin-headquartered company has developed a digital health platform that is used by more than 300 organisations. These include the Health Service Executive here, and Britain’s National Health Service, for whom the company delivers more than 70 per cent of mental health programmes.

A spin-out from a collaborative project between the National Digital Research Centre, Mater University Hospital, and Trinity College Dublin, SilverCloud Health was established in 2012 after more than 10 years of advanced clinical and academic research.

“The reach of Amwell provides us with the access and resources to become the true global leader of digital mental health care delivery,” Mr Cahill said at the time of the deal announcement.