Victor H. McConnell, MAI, ASA, CRE, FRICS

Managing Director

Victor H. McConnell is a Managing Director in VMG Health’s Real Estate Services division and is based in the Denver office.  He has real property valuation & consulting experience in 42 of the United States, including extensive experience with the valuation of healthcare related properties.

McConnell has provided Fair Market Value and Fair Market Rent analyses to a variety of hospitals, physician groups, for-profit and non-profit health systems, as well as corporate and governmental clients.  McConnell has also provided appraisals and valuation-related consulting services to REITs, lenders, and private equity firms to assist with risk assessment and due diligence. In addition, he has experience with issuing commercial reasonableness opinions and is well versed in the regulatory nuances specific to the healthcare real estate sector. Consulting services performed by McConnell include constructing frameworks to assist with leasing compliance programs as well as profits distribution between equity partners in new developments.

Specific property types McConnell has analyzed include acute care hospitals, cancer clinics, on and off campus medical office buildings (MOBs), ambulatory surgery centers (ASCs), diagnostic imaging centers, dialysis facilities, proton therapy centers, sleep labs, cath labs, seniors housing projects, low-income housing tax credit (LIHTC) projects, independent living facilities (ILFs), assisted living facilities (ALFs), skilled nursing facilities (SNFs), continuing care retirement communities (CCRCs), biomanufacturing facilities, surgical hospitals, micro-hospitals, rehab hospitals (IRFs), long term acute care hospitals (LTACHs), psychiatric facilities, hospice wings, laboratories, physical therapy clinics, and drugstores. McConnell’s valuation experience also includes “zero cash flow” properties, corporate headquarters, and a variety of other commercial assets.

McConnell graduated from Dartmouth College in 2004 and began his valuation career with a boutique commercial real estate firm in 2006.  He has an MAI designation from the Appraisal Institute, an ASA designation from the American Society of Appraisers, and a CRE designation from the Counselors of Real Estate.

McConnell presents regularly at healthcare real estate industry conferences, and was selected as an Emerging Leader in Healthcare Real Estate in November 2015 by Globe Street. He has published in venues such as AHLA, ABA, and Becker’s Hospital Review. Clients served include six of the ten largest for-profit health systems and seven of the 15 largest non-profit health systems.

Wayne Pryor is a Managing Director in VMG Health’s Financial Due Diligence division in the Nashville office. He has over 30 years of experience in the healthcare industry, with a focus on transaction services. Pryor has worked on over 450 buy-side and sell-side transactions in every sub-sector of the industry, ranging from $1 million to $10 billion deals.

Prior to joining VMG Health, Pryor was a Partner and Head of Mazars’ Healthcare Transaction Advisory Services division and was a Managing Director in a large national accounting firm’s Transaction Services Practice where he focused on the healthcare sector. He has also held roles at a Big 4 accounting firm; was the Director of Planning, Analysis and Decision Support Systems for the Mayo Clinic and St. Luke’s Hospital in Jacksonville, Florida; was Corporate Controller for Sterling Healthcare Services; was Finance Director for Baptist St. Vincent’s Health System; and was Contract Administrator/Senior Financial Analyst for Cigna HealthCare.

Pryor received his bachelor’s in accounting from Western State College and attended the University of Arizona, where he pursued a master’s in public administration. He is also a Certified Public Accountant (CPA).

Britt Martin is a Director in the Professional Services Agreement division and is based in the Dallas office. She specializes in a wide variety of agreements and agreement structures including: clinical compensation, on-call coverage compensation, medical director/physician executive compensation, management fees, billing and collection fees, and quality incentive compensation.

Martin graduated from the Dedman College of Humanities and Sciences at Southern Methodist University with a bachelor’s degree in economics. Martin is a Chartered Financial Analyst (CFA) Charterholder through the CFA Institute and a Certified Valuation Analyst (CVA) through the National Association of Certified Valuators and Analysts. She is also pursuing the Accredited Senior Appraiser designation through the American Society of Appraisers.

Colin Park is a managing director at VMG Health and is based in the Dallas office. His focus has been on developing client relationships and providing valuation, transaction advisory, and operational consulting services in the healthcare services industry. Specifically, Park has significant experience with the acute care and specialty hospital, ambulatory surgery center, oncology center, diagnostic imaging center, dialysis center, physicians group, and numerous other ancillary healthcare service business segments. In addition to the extensive valuation experience for transaction planning and financial reporting purposes, he has consulted on numerous development, feasibility, and denovo business development engagements. Clients include 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.

Prior to joining VMG Health, Park worked as a senior associate in the Planning and Financial Group at Greystone Communities, Inc. He also previously worked as an analyst in the Tangible Asset Group in Financial Advisory Services at Houlihan Lokey.

Park received a Bachelor of Business Administration in Accounting, a Certificate in International Business and a Master of Real Estate Finance degree from the Mays Business School at Texas A&M University. He is a licensed Certified Public Accountant (CPA) in the state of Texas, an Accredited Senior Appraiser (ASA) with the American Society of Appraisers, and holds the Accredited in Business Valuation (ABV) designation.

Debra Rossi is a Director in the Coding, Compliance, and Operational Excellence division. She has over 30 years of healthcare revenue cycle and coding experience spanning academic medical centers, community hospitals, faculty practice plans, and large private practices. She has consulting experience in all areas of practice management and is a recognized industry expert in the area of coding, compliance, and revenue cycle.

Rossi conducts educational and training seminars and has overseen comprehensive coding and compliance programs at several of New York’s leading healthcare institutions. She also has a successful record with development and implementation of revenue integrity programs, denial management, and risk adjustment (HCC coding).

Rossi is the recipient of the 2016 Health Ethics Trust Best Practice Award. She is also a co-inventor of a patent pending, award winning coding tool focused on risk diagnosis coding identification and improvement.

Emily Rizos is a Director at VMG Health and is based in the Dallas office. Her focus is on providing valuation and transaction advisory consulting services within the healthcare services industry.

Rizos 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 expertise in valuations related to acute care hospitals, ambulatory surgery centers, urgent care centers, physician groups, home health and hospice agencies, diagnostic imaging centers, radiation therapy centers, and several other ancillary healthcare businesses. The clients she primarily serves are not-for-profit health systems and for-profit healthcare providers. Rizos currently serves as the industry expert lead for VMG Health’s Urgent Care Affinity Group and is a member of the Urgent Care Association of America.

Prior to VMG Health, Rizos graduated magna cum laude with a Bachelor of Business Administration in Finance from Texas A&M University in College Station, Texas. She also minored in psychology and international business.

She currently holds the Chartered Financial Analyst (CFA) designation through the CFA Institute and is a member of the Dallas Fort Worth CFA Society. In addition, she has been published in the Journal of Urgent Care Medicine and has presented on CLE-accredited webinars for both the American Bar Association and American Health Law Association. She currently serves as Vice Chair of Educational Programming for the American Health Law Association’s Business Law and Governance Practice Group and Healthcare Transactions Affinity Group.

Larry D. Snyder has experience in the valuation of healthcare, commercial, special use, and investment grade properties throughout the United States. Snyder’s valuation experience includes determining Market Value for lending purposes, partnership considerations, purchase and sale decisions, ad valorem purposes, allocation of purchase price, and Fair Market Value for Stark Law compliance and internal planning purposes. He has been appraising commercial and special use properties since 1986.

Snyder has performed valuation assignments for numerous healthcare-related entities. Clients served include: Geisinger, Encompass, Memorial Hospital at Gulfport, Medical Properties Trust, Inc., Hospital Corporation of America (HCA), Community Health Systems (CHS), CHRISTUS Health, USPI, Centura Health, Bluefield Regional Medical Center, McLeod Health, Blessing Hospital System, Marshfield Clinic Health System, Hospital Sister’s Health System, Ascension, Beaumont Health, Bon Secours, University of Utah, Seavest Healthcare Properties, and Alliance Oncology. Snyder has also provided valuation services to a variety of healthcare law firms including Kutak Rock LLP, Moore & Van Allen PLLC, Hall Render Killian Heath & Lyman, P.C., Foley & Lardner, and Reed Claymon Meeker & Hargett, PLCC.

Types of medically-oriented properties analyzed include: cancer clinics, medical offices, ambulatory surgery centers (ASCs), diagnostic imaging facilities, micro-hospitals, acute care hospitals, rehab hospitals, behavioral hospitals, and skilled nursing facilities. Snyder’s valuation experience also includes non-healthcare properties such as: vacant land, leasehold analyses, and various triple-net leased properties.

Lukas Recio is a Director in the Buy/Sell Side Due Diligence and Business Valuation Divisions of VMG Health in the Dallas office. He provides consulting, transaction advisory, and business valuation services to clients within the healthcare services industry.

Recio graduated from Texas A&M University Mays Business School where he earned a Bachelor of Business Administration in Accounting and a Master of Science in Finance. Before joining VMG Health, he gained valuable experience at PwC’s Dallas office as a part of their Banking and Capital Markets assurance team. Recio is currently a licensed Certified Public Accountant (CPA) in Texas.

Matt McKenzie is a Director in the Professional Service Agreements Division at VMG Health and is based in the Denver office. His focus is in providing valuation and consulting services for compensation arrangements within the healthcare services industry. He specializes in valuations related to clinical compensation models, on-call coverage, physician administrative and executive services, subsidy coverage, management services, and quality initiatives.

McKenzie serves as a contributor to VMG Health’s FMV Tools™ which allows users to quickly establish compensation levels for employed and independent contractor physicians in various roles based on systematic and unbiased guidelines.

McKenzie was a Distinguished Scholar at Southern Methodist University and graduated with a Bachelor of Business Administration in Finance with honors from the Edwin L. Cox School of Business. Additionally, he holds a Bachelor of Science in Economics with Financial Applications from the Dedman College of the Humanities and Sciences at SMU. McKenzie is currently designated as a Certified Valuation Analyst (CVA).

Nick Taglioli is a Director in VMG Health’s Dallas office. He specializes in providing valuation, transaction advisory, and consulting services to businesses within the healthcare industry.

Taglioli’s experience includes providing valuation and advisory services related to transactions, joint ventures, financial reporting requirements, federal tax compliance, and commercial litigation. Taglioli’s experience spans numerous subindustries including acute care and specialty hospitals, ambulatory surgery centers, diagnostic imaging centers, physician practices, oncology centers, skilled nursing facilities, and urgent care centers. In addition to the extensive valuation experience for transaction planning, he has consulted on numerous black box reimbursement analyses for joint venture, restructuring, and denovo business development purposes. Clients include for-profit and not-for-profit health systems, ancillary services providers, development companies across several healthcare industry subspecialties, and other publicly owned and privately held healthcare entities.

Prior to VMG Health, Taglioli was a senior analyst at Hill Schwartz Spilker Keller, LLC in the Business Valuation and Litigation Consulting Groups where he performed valuation, transaction advisory, and litigation consulting services for the firm’s corporate and private clients. Taglioli received a Bachelor of Business Administration from Texas State University, and a Master of Business Administration from Texas Tech University.

Sector Experience

Ambulatory Surgery Centers
Behavioral Health
Dialysis
Hospitals
Imaging & Radiology
Oncology
Physician Practices
Laboratories
Pharmacy & Retail Medicine
Post-Acute Care
Urgent Care & Freestanding EDs

Areas of Expertise

Real Estate
Fair Market Value Opinions
Financial Reporting
Litigation & Dispute Resolution