- About Us
- Our Clients
- Valuation & Transactions
- Strategy & Advisory
- Coding & Compliance
- Healthcare Sectors
- Ambulatory Surgery Centers
- Behavioral Health
- Hospital-Based Medicine
- Imaging & Radiology
- Medical Device & Life Sciences
- Medical Transport
- Physician Practices
- Post-Acute Care
- Risk-Bearing Organizations & Health Plans
- Telehealth & Healthcare IT
- Urgent Care & Free Standing EDs
- Contact Us
Alex Malin, CVA
Alex Malin is a manager in the Business Valuation Services division at VMG Health and is based in the Dallas office. He specializes in providing valuation, transaction advisory, and litigation consulting services to businesses within the healthcare industry.
Malin’s experience includes providing valuation and advisory services related to professional service arrangements within the healthcare services industry such as management services and co-management, quality incentive program structure, healthcare transactions, joint ventures, financial reporting requirements, and expert witness and rebuttal analyses across a range of complex civil and criminal matters. His clients include hospitals, hospital systems, ambulatory surgery centers, imaging centers, laboratories, physician groups, law firms, and various governmental agencies.
Malin received a Bachelors in Economics from the University of Texas at Austin and a minor in accounting and finance. He is designated as a Certified Valuation Analyst (CVA) through the National Association of Certified Valuators and Analysts.
William Cross is a manager in the Business Valuation & Transaction Advisory Division at VMG Health in the Nashville office. He primarily works to assist both not-for-profit and for-profit clients with transaction-related valuation, financial, and consulting services. Specifically, Mr. Cross has extensive experience working with physician practices, ambulatory surgery centers, acute care hospitals and diagnostic imaging centers, Additionally, he has broad experience providing valuation and consulting services for most other types of businesses in the healthcare industry.
Mr. Cross graduated from Vanderbilt University with a Bachelor of Engineering in Chemical and Biomolecular Engineering. He is also candidate for the Chartered Financial Analyst (CFA) designation.
Vincent M. Kickirillo is the leader of Valuation and Transaction Advisory Services at VMG Health and is based in the Dallas office. He has over 30 years of experience providing financial, valuation, and transaction advisory services and solutions to clients in the healthcare industry. His clients include corporations, boards of directors, “C-level” executives, and legal counsels for entities such as hospitals, health systems, ambulatory surgery centers, imaging centers, radiation therapy centers, physician practices, risk bearing entities, and other healthcare entities. He also has extensive experience serving Private Equity backed healthcare entities.
Prior to joining VMG Health in 2005, Kickirillo has held director roles at FTI Consulting, Inc. and at KPMG’s valuation and litigation practices. He has also worked in the financial advisory services practice at Ernst & Young.
Kickirillo has provided professional services for the purposes of merger, acquisition, divestiture, management planning, restructuring, tax planning, bankruptcy, and litigation. Kickirillo has provided testimony regarding valuation and other financial issues. He has extensive experience in valuation of businesses; financial securities, including common stock, preferred stock, and derivatives; intellectual property, such as patents, trademarks, and trade names; and other specific assets.
He received a Bachelor of Business Administration from The University of Texas at Austin, and a Master of Business Administration from Southern Methodist University. He holds the Chartered Financial Analyst (CFA) designation and is a Certified Valuation Analyst (CVA).
Aaron Murski serves as a Managing Director at VMG Health and is based in the Dallas office. He has developed expertise in providing valuation opinions, transaction consulting, and market research across many verticals within healthcare services. In addition to the extensive valuation experience in support of regulatory compliance, transaction planning, and financial reporting purposes, he has consulted on numerous development, feasibility, and recapitalization analyses for joint venture, restructuring, and denovo business development purposes. Clients include for-profit and not-for-profit health systems, providers, development companies, and their advisors across the United States.
Murski is also the lead research associate and collaborator in the development and publication of the Intellimarker Multi-Specialty ASC Benchmarking Study published annually by VMG Health. The Intellimarker presents hundreds of operating and financial benchmarking statistics using data from approximately 200 ambulatory surgery centers from around the country.
Murski received a Bachelor of Business Administration in Finance from the Mays Business School at Texas A&M University and a Master of Science in Jurisprudence, Health & Hospital Law Concentration, from Seton Hall University School of Law in Newark, NJ. He is designated as a Certified Valuation Analyst (CVA).
Clinton Flume is a Managing Director at VMG Health in the Dallas office. Over his 14-year tenure, his focus has been on developing client relationships and providing valuation, transaction advisory, and operational consulting services in the healthcare services industry. He has significant experience with the physician practice, post-acute, cancer centers, ambulatory surgery centers, behavioral health, and diagnostic imaging segments. Flume also has experience valuing intangible assets such as brand/trade name, certificate of needs (CON) and non-compete agreements along with assisting clients with financial consulting and proforma analysis. Flume’s clients include academic medical centers and teaching hospitals, for-profit and not-for-profit health systems, ancillary services providers, development companies across several healthcare industry sub-specialties, and other publicly owned and privately held healthcare entities.
Flume is also a contributing author in The Healthcare Executive’s Simple Guide to FMV published in 2017 in conjunction with the ABA Health Law section. Flume’s contributing chapters include inpatient rehabilitation facilities and professional physician practices.
Flume received a Bachelor of Arts in Communication from the Texas Christian University and a master’s degree in business administration from the Mays Business School at Texas A&M University. He has achieved the Certified Valuation Analyst (CVA) designation with the National Association of Certified Valuators and Analysts (NACVA) and is a member of the American Health Lawyers Association.
Kevin McDonough is a Managing Director at VMG Health and is based out of the Dallas office. During his tenure at VMG Health, McDonough has provided valuation, transaction advisory, feasibility, and operational consulting services to the firm’s healthcare clients.
His clients include acute care hospitals and health systems, ambulatory surgery centers, surgical hospitals, oncology centers, diagnostic imaging centers, dialysis centers, inpatient and outpatient post-acute care operators, physician groups, health plans and risk bearing organizations, and numerous other ancillary healthcare service businesses. In addition, McDonough helps to lead the firm’s life sciences practice providing valuation services related to many forms of medical device and pharmaceutical consulting arrangements. Finally, he has served as a consultant in the formation and development of numerous physician-hospital joint venture initiatives.
McDonough graduated cum laude and holds a bachelor’s degree in finance from the McCombs School of Business at The University of Texas at Austin. Additionally, McDonough is a Chartered Financial Analyst (CFA). He is a member of the CFA Institute, CFA Society of Dallas-Fort Worth, Ambulatory Surgery Center Association, American Society of Appraisers (ASA), Healthcare Financial Management Association, and the Physician Hospitals of America (PHA).
Todd J. Sorensen is a Managing Director at VMG Health. He specializes in providing valuation and transaction advisory services to the firm’s healthcare clients. He has acted as financial advisor in transactions with physician groups, acute care hospitals, urgent care and free-standing emergency rooms/departments, home health and hospice, inpatient rehab, inpatient behavioral health, Medicare Advantage plans, imaging centers, radiation therapy (including proton therapy), ambulatory surgery centers, home health agencies, and physical and occupational therapy centers.
Sorensen has also assisted buyers and sellers with purchase price allocations including intangible asset and personal goodwill valuations for tax planning.
Prior to joining VMG Health, Sorensen was with the Financial Advisory Group of Ernst & Young. Sorensen helped play an integral role in the development of healthcare valuation services. He has assisted in the development of financial tools that allow clients to make better decisions concerning efficient deployment of capital. Sorensen holds an MBA degree and is designated as a Certified Valuation Analyst (CVA).
Amy Hilliard is a director with VMG Health and is based in the Dallas office. She specializes in providing financial, valuation, and transaction advisory services to clients in the healthcare industry.
Prior to joining VMG Health, Hilliard was a director in the Corporate Finance/Restructuring group of FTI Consulting, Inc. In that role she provided advisory services to debtors, creditors, and other stakeholders of companies experiencing unfavorable situations arising from liquidity problems, over-leverage, under-performance, right-sizing, or other business transition issues. Prior to FTI Consulting, Inc., Hilliard worked in the corporate analysis group of The Associates and the money-market division of Fidelity Investments.
Hilliard received a Bachelor of Business Administration and a Master of Business Administration from The University of Texas at Austin.
John Meindl is a director with VMG Health and is based in the Dallas office. In addition to providing valuation and transaction advisory services, Mr. Meindl leads the firm’s Interim Corporate Development service line. Mr. Meindl also has experience in the firm’s Dispute Resolution and Litigation Advisory service line.
Mr. Meindl’s experience includes providing interim corporate development and transaction advisory services, and valuation advisory services for management planning, dispute resolution, financial reporting, and tax purposes.
Prior to VMG Health, Meindl was with Ernst and Young in the Transaction Advisory Services group where he performed valuation, transaction advisory, and dispute resolution services for the firm’s corporate and private clients.
Meindl received a Bachelor of Science in Business Administration from Wake Forest University, and a Master of Business Administration from Southern Methodist University. He holds the Chartered Financial Analyst (CFA) designation.
Tim Spadaro is a director in the Valuation & Transaction Advisory Services Division of VMG Health in the Dallas office, where he provides financial due diligence, business valuation, and other transaction advisory and consulting services to clients within the healthcare services industry.
Tim has experience providing transaction advisory services related to mergers & acquisitions, financing, and shareholder transactions. He has served clients in many sectors of the healthcare industry including acute care hospitals, ambulatory surgery centers, diagnostic imaging centers, ground and air ambulance, physician and dental practice management, post-acute care, and other ancillary healthcare service businesses. As a consultant, his goal is to assist clients with expansion, acquisition, capital budgeting and strategic decision making.
Prior to joining VMG Health, Tim gained accounting and valuation experience at PricewaterhouseCoopers and Strategic Value Partners in the New York Metro area and led the valuation group at a regional accounting firm in Upstate New York. Tim attained both his Bachelor of Science and Master of Science in Accountancy from Bentley University in Waltham, Massachusetts. He has earned the Chartered Financial Analyst (CFA) designation and is also a Certified Public Accountant (CPA) that has received the Accredited in Business Valuation (ABV) credential.
Ambulatory Surgery Centers
Imaging & Radiology
Areas of Expertise
Litigation & Dispute Resolution