It’s a long way from Barnsley Town Hall to the City of London but Patrick Cryne appears to have had few problems finding his way. The iSoft chairman, who began his working life in a clerical job with Barnsley council, announced plans to retire from the board of the FTSE 250 healthcare IT group yesterday.
Since co-founding the company just over a decade ago, he has led the development of the group from its beginnings as a unit within KPMG, the accountancy firm, to becoming a £945 million publicly listed company. Today his 3.9 per cent stake in the company is worth just under £40 million.
Mr Cryne, who was a partner in KPMG’s consulting business, concedes now that iSoft was never going to flourish as part of the accountancy firm. In 1998 he led a management buyout with Roger Dickens and Steve Graham for £12 million. In 2000 iSoft floated with a valuation of some £120 million.
Mr Cryne, 54, is co-owner and a lifelong fan of Barnsley Football Club, and says that he watches every game. He also co-owns the Vale Royal Abbey golf club in North Cheshire, though he says that he has never found time to play a round there. He and his wife have a son.