Nick Shannon, ASA

Managing Director

Nick Shannon is a Managing Director with VMG Health in the Capital Asset Valuation Division. He has extensive experience providing capital asset valuation services, and consulting for domestic and international financial and tax reporting, mergers, acquisitions, divestitures, lease transactions, and other purposes. Shannon has served clients across many different industries including healthcare and life sciences, consumer and industrial manufacturing, aerospace and defense, oil and gas, semiconductor manufacturing, and others.

Healthcare clients served by Shannon have included valuation engagements for hospitals, ambulatory surgery centers, imaging and radiology, oncology, medical transport, physician practices, and many more. In addition, he has performed valuation engagements for life sciences clients including pharmaceutical companies, manufacturers of certified reference standards and materials, and biomanufacturing testing companies.

Prior to joining VMG Health, Shannon was a Manager for Deloitte Financial Advisory Services in the engineering, construction and consulting group. The group was responsible for managing and performing tangible asset valuation engagements and collaborating on domestic and international projects across various audit, tax, consulting, and valuation service lines. Prior to joining Deloitte, Shannon was an associate for American Appraisal in the Industrial Valuation Group responsible for performing tangible asset valuation engagements for the energy and chemical industries in support of financial reporting and property tax purposes.

Shannon graduated with a Bachelor of Science in Industrial Distribution from the college of engineering at Texas A&M University. He is an Accredited Senior Appraiser (ASA) with the American Society of Appraisers.

Pam D’Apuzzo is a Managing Director at VMG Health leading the Coding, Compliance and Operational Excellence Management service line. She is a recognized leader and industry expert in the area of coding and compliance. Pam’s 30-plus years of healthcare consulting experience spans academic medical centers, community hospitals, faculty practice plans and large private practices.

A trusted adviser to New York’s leading healthcare institutions, she conducts educational and training seminars and provides comprehensive compliance programs. Pam also has a successful record of practice management services including operational and billing review, practice assessment, practice start-up assistance and EMR implementation.

Pam is a frequent speaker at conferences sponsored by the American Academy of Professional Coders (AAPC), Healthcare Financial Management Association (HFMA), New York State Society of Physician Assistants (NYSSPA), Suffolk County Medical Society (SCMS) and American Association of Gynecologic Laparoscopists (AAGL).

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).

Thomas A. Warrington, Jr. is a Managing Director in the Professional Service Agreements Division at VMG Health and is based in the Nashville office. He specializes in providing valuation and consulting services for professional service arrangements within the healthcare services industry.

Specifically, his areas of expertise are valuations for professional services including call coverage, clinical compensation, physician administrative and executive services, administrative management, billing and collection services, and subsidy coverage. Clients include for-profit and not-for-profit health systems and other public and privately held healthcare entities.

Prior to joining the Professional Services Agreements Division, Warrington worked in VMG Health’s Business Valuation Division where he provided valuation services for transaction purposes. Businesses valued included acute care hospitals, specialty and/or surgical hospitals, ambulatory surgery centers, diagnostic imaging centers, and physician practices, among others. Warrington holds a Bachelor of Business Administration in Finance from Tennessee Technological University. He is designated as a Certified Valuation Analyst (CVA) and is a member of the National Association of Certified Valuators and Analysts (NACVA) and Financial Consulting Group (FCG).

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).

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).

Anthony Domanico is a Director at VMG Health and is the head of VMG Health’s provider compensation design and consulting service line. With nearly 15 years of experience in the valuation and design of provider compensation arrangements, Domanico’s practice has a national focus on compensation design and consulting services for both employed and non-employed physicians and advanced practice providers (APPs) within the healthcare services industry.

He specializes in assisting clients in the development and design of clinical, administrative, and academic compensation structures that align provider incentives with the mission, vision, values, and strategic goals of the organization.

In addition to compensation design and consulting, Domanico values compensation for professional service arrangements that include clinical coverage, call coverage, medical directorships, academic and faculty appointments, physician consulting, clinical co-management, administrative management, physician executive, and many other types of service arrangements. His clients include for-profit and not-for-profit health systems, academic medical centers, and other publicly owned and privately held healthcare entities.

Prior to joining VMG Health, Domanico was a Senior Consultant at SullivanCotter and focused on employed provider compensation design, fair market value, and commercial reasonableness analyses. Before that he worked for two not-for-profit health systems in Minneapolis, Minnesota focused on employed and non-employed provider in the disciplines of finance, human resources, and business development.

Domanico holds a bachelor’s degree in social psychology from Beloit College in Beloit, Wisconsin. He also holds a Master of Business Administration from Hamline University in Saint Paul, Minnesota. He is designated as a Certified Valuation Analyst (CVA) through the National Association of Certified Valuators and Analysts.

Bartt B. Warner is a Managing Director in the Compensation Division at VMG Health and is based in the Nashville office. His focus is on providing valuation, consulting, and advisory services for compensation arrangements within the healthcare services industry.

Warner has particular expertise in arrangements for clinical services, on-call coverage, medical director and physician executive services, coverage arrangements, management services, graduate medical education, and quality initiatives. Clients include for-profit and not-for-profit health systems, academic medical centers, and other publicly owned and privately held healthcare entities. Warner started his career at VMG Health in the Business Valuation Division where he provided valuation services related to hospitals, ambulatory surgery centers, diagnostic imaging centers, single and multi-specialty physician practices, and cancer treatment centers, among others.

He holds the Certified Valuation Analyst (CVA) designation from the National Association of Certified Valuators and Analysts (NACVA). In addition, he has been published in the NACVA QuickRead, Becker’s Hospital Review, the American Health Law Association, and the Health Care Compliance Association.

Warner has also presented at the American Health Law Association, Healthcare Financial Management Association, the University of California, Johns Hopkins Medicine, and the NACVA. He currently serves as the Chair for American Health Law Association’s Fair Market Value Affinity Group.

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.

Sector Experience

Ambulatory Surgery Centers
Hospitals
Imaging & Radiology
Medical Transport
Oncology
Physician Practices
Laboratories
Medical Device & Life Sciences
Pharmacy
Urgent Care & Freestanding EDs

Areas of Expertise

Fair Market Value Opinions
Financial Reporting
Capital Assets
Mergers & Acquisitions