Monday 26 February 2018

Ex-C&C chief Pratt joins board of Conroy's new wellness fund

Maurice Pratt Pic: Conor McCabe Photography
Maurice Pratt Pic: Conor McCabe Photography
Gavin McLoughlin

Gavin McLoughlin

Former C&C chief executive Maurice Pratt has joined the board of a new health and wellness fund set up by former Merrion Capital chief John Conroy.

Pratt has been joined on the board by Con Scanlon, the former deputy chairman of Eircom (now Eir) who later went to work with Conroy at Merrion.

The fund aims to bring the worlds of health and technology together. Conroy said it was too early to comment on the venture, but is reportedly aiming to raise around €75m.

Pratt and Scanlon are the latest in a series of well-known figures to get involved in Conroy's new venture.

Retired Olympian Eamonn Coghlan has been providing health advice and Chris Horn, the co-founder of Irish software company Iona Technologies which was sold for around $160m (€150m) in 2008, has been providing tech advice. Horn is a venture parter at Irish venture capitalists Atlantic Bridge.

Pratt, well-known in Ireland as the face of Quinnsworth in the 1980s and 1990s, was boss of Bulmers maker C&C from 2002 to 2008. He oversaw an expansion in the UK which proved laden with difficulties. The company's share price crashed from €13.45 in late 2006 to €1.45 by late 2008.

Scanlon was an Eircom employee and trade union official who rose up the ranks to become the company's deputy chairman. After leaving Eircom in 2004 he became a director of Merrion Capital Investment Managers during Conroy's time in charge.

Conroy left Merrion in 2014 after a management buyout, which included investment firm Tetrarch Capital taking a minority stake.

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