Tim Spadaro, CFA, CPA/ABV

Director

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.

William Teague is a director based in the Nashville office and has been with VMG Health since 2010. William specializes in providing valuation, transaction advisory, and management consulting services to the firm’s healthcare clients. He has been involved in over 500 engagements having particular experience with acute care hospitals, radiation/proton therapy centers, behavioral health hospitals, ambulatory surgery centers, medical transport companies, physician groups and home health/hospice agencies.

William serves as a trusted financial advisor to his clients in support of transactions, affiliations, joint ventures, recapitalizations, the development of denovo facilities and for other strategic planning purposes. In this capacity, his experience includes performing valuations of businesses/assets, preliminary due diligence support, risk assessments and feasibility or market studies. In addition, he has helped clients develop detailed proformas, improve financial performance of existing facilities and plan for new investment projects. Finally, William has extensive experience with intellectual property valuation, such as trade name / branding arrangements and certificates of need (CON).

Mr. Teague graduated summa cum laude and holds a Bachelor of Science in Finance and Economics from the University of Tennessee at Knoxville. He holds the Chartered Financial Analyst (CFA) designation from the CFA Institute and is designated as a Certified Valuation Analyst (CVA) through the National Association of Certified Valuators.

Brett Nelson is a director in the Business Valuation and Transaction Advisory Services division at VMG Health and is based in the Dallas office. He specializes in providing valuation, transaction advisory, and operational consulting services to businesses within the healthcare services industry. Nelson’s experience spans numerous healthcare subindustries. Specifically, he has significant experience with acute care hospitals, ambulatory surgery centers, diagnostic imaging centers, physician groups, radiation therapy centers, risk-bearing entities, and several other ancillary healthcare businesses.

Nelson graduated from Southern Methodist University’s Cox School of Business with a Bachelor of Business Administration in Finance and Dedman College of Humanities and Sciences with a Bachelor of Science in Economics with Financial Applications. He is designated as a Certified Valuation Analyst (CVA) through the National Association of Certified Valuators and Analysts and is currently pursuing the Chartered Financial Analyst (CFA) designation through the CFA Institute.

Gerrit Elzinga is a Manager in the Valuation and Transaction Advisory Services Division at VMG Health and is based in the Denver office. He specializes in providing valuation, transaction advisory, and consulting services to the healthcare industry. His valuation experience extends across various healthcare subindustries, including physician practices, ambulatory surgery centers, diagnostic imaging centers, dialysis centers, urgent care clinics, physician therapy centers, and general acute care hospitals.

Elzinga holds a Bachelor of Science in Business Administration with an emphasis in finance from the Leeds School of Business at the University of Colorado – Boulder. Additionally, he is a Certified Valuation Analyst (CVA) and is currently a member of the National Associates of Certified Valuation Analysts (NACVA).

Dylan Alexander is a Director in the Valuation and Transaction Advisory Services Division and is based in the Denver office. He specializes in providing valuation, transaction advisory, and consulting services to the healthcare industry . His valuation experience extends across various healthcare subindustries including general acute care hospitals, specialty hospitals, ambulatory surgery centers, physician practices, diagnostic imaging centers, radiation therapy centers, dialysis centers, cancer centers, urgent care clinics, and physical therapy centers.

Alexander received a Bachelor of Business Administration in Finance from the Cox School of Business at Southern Methodist University. Additionally, he is a Certified Valuation Analyst (CVA) and is currently a member of the National Association of Certified Valuation Analysts (NACVA).

Ingrid Aguirre is a director in the Business Valuation Services division with VMG Health and is based in the Dallas office. She specializes in providing valuation, transaction advisory, and litigation consulting services to businesses within the healthcare industry. Aguirre’s experience includes providing valuation and advisory services related to transactions, joint ventures, financial reporting requirements, and expert witness and rebuttal analyses across a range of complex civil and criminal matters. Her clients include hospitals, hospital systems, ambulatory surgery centers, imaging centers, laboratories, physician groups, law firms, and various governmental agencies.

Aguirre received a Bachelor of Business Administration in Finance from Baylor University. She currently holds the Chartered Financial Analyst (CFA) designation through the CFA Institute and is a member of the Young Professionals Committee with the CFA Society of Dallas Fort Worth.

Julie Doyle is a Manager in the Valuation and Transaction Advisory Division at VMG Health and is based in the Dallas office. She focuses on providing valuation and consulting services for compensation arrangements within the healthcare services industry. She specializes in valuing a variety of agreements including clinical services, medical director and physician executive services, on-call coverage services, and professional service arrangements.

Mrs. Doyle received a Bachelor of Business Administration in finance from the University of Texas at Austin. She is currently designated as a Certified Valuation Analyst (CVA) and is a member of the National Association of Certified Valuation Analysts.

Jordan Tussy is a Manager in the Valuation & Transaction Advisory division at VMG Health and is based in the Dallas office. She specializes in providing valuation and transaction advisory consulting services to businesses within the healthcare services industry. Tussy provides fair market value analyses for purposes of regulatory compliance and management planning, valuations in support of financial reporting requirements, and consulting and other transaction advisory services. She has significant experience with acute care hospitals, surgical hospitals and ambulatory surgery centers, physician groups, home health and hospice agencies, diagnostic imaging centers, and several other ancillary healthcare businesses. The clients she primarily serves are not-for-profit health systems and for-profit healthcare providers.

Tussy received a Bachelor of Science in Nutritional Sciences from Oklahoma State University. She also received a Master of Business Administration with concentrations in Finance, Real Estate, and Strategy from Southern Methodist University and she is designated as a Certified Valuation Analyst (CVA) through the National Association of Certified Valuators and Analysts.

Savanna Ganyard is a director in the Business Valuation Services division at VMG Health and is based in the Dallas office. Her focus is providing financial, valuation, and transaction advisory services for businesses within the healthcare services industry. She has particular expertise in valuations relating to ambulatory surgery centers, oncology centers, diagnostic imaging centers, physician practices, home health and hospice agencies, and other ancillary healthcare service businesses. In addition, Ganyard has performed numerous contract-related analyses, including value-based arrangement and lithotripsy services agreement valuations. She also has experience providing financial consulting and operational assessment services for transaction planning purposes.

Ganyard received a Bachelor of Business Administration in Finance from the Mendoza School of Business along with a minor in Actuarial Science at the University of Notre Dame. She currently holds the Chartered Financial Analyst (CFA) designation through the CFA Institute.

Sydney Richards is a Director in the Business Valuation Services division at VMG Health and is based in the Dallas office. She specializes in providing valuation, transaction advisory, and consulting services to businesses within the healthcare services industry.

Richards’ experience spans numerous healthcare sub-industries. Specifically, she has significant experience with inpatient rehabilitation hospitals, ambulatory surgery centers, physical therapy clinics, physician groups, urgent care centers, home health agencies, diagnostic imaging centers, radiation therapy centers, and several other ancillary healthcare businesses. In addition, Richar has performed several intangible asset valuations including brand valuation and numerous managed care reimbursement comparison analyses. She also has extensive experience with complex joint venture/service line carve-outs, de novo models, and investment analysis modeling.

Richards graduated summa cum laude from the Neeley School of Business at Texas Christian University with a Bachelor of Business Administration in Finance and Management. She currently holds the Certified Valuation Analyst designation from the National Association of Certified Valuators and Analysts (NACVA) and is involved in the Leadership Development Program at the American Health Lawyers Association.

Sector Experience

Ambulatory Surgery Centers
Imaging & Radiology 
Medical Transport
Physician Practices

Areas of Expertise

Fair Market Value Opinions