Melissa Hoelting, CPA

Director

Melissa Hoelting is a director in the Financial Due Diligence Division of VMG Health in the Dallas office, where she provides consulting and transaction advisory services to buy-side and sell-side clients within the healthcare services industry.

Melissa received a Bachelor of Administration in Finance from the Mendoza School of Business at the University of Notre Dame. Before joining VMG Health, she worked at American Airlines in International Finance and Fixed Assets Accounting. Melissa is currently a licensed Certified Public Accountant (CPA) in the state of Texas.

Jeffrey Piehl, MAI, based in Denver, CO, serves as the Managing Director of the VTAS Real Estate division at VMG Health. With over 30 years of expertise in healthcare real estate, Jeff specializes in handling real estate valuations for FMV compliance purposes and acquisitions/dispositions, rental rate disputes, and portfolio valuation and financial reporting. His experience spans all 50 states and includes hospitals, MOBs, cancer centers, imaging centers, and ASCs.

Before joining VMG Health, Jeff held leadership roles across the United States, leading healthcare real estate–focused teams at Cushman & Wakefield and HealthCare Appraisers, Inc. His work has centered on leading diverse teams that specialize in healthcare real estate valuations that require experience in understanding the nuances and intricacies of healthcare operations and their impact on real estate.

Jeff earned his Bachelor of Arts in economics from the University of Colorado – Boulder.

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).

Ben Ulrich is a Managing Director in the Compensation Division at VMG Health and is based in the Dallas office. His focus is providing valuation and consulting services for contractual service arrangements within the healthcare services industry. He has particular expertise in valuations relating to provider employment, on-call coverage, physician administrative and executive services, telemedicine, hospital-based coverage, management / billing, and quality initiatives. Ulrich also developed and manages VMG Health’s FMV Tools service line providing expedited, cost-effective valuation solutions to clients nationwide.

Prior to joining the Compensation Division, Ulrich worked in VMG Health’s Business Valuation division where he provided valuation services related to hospitals, specialty/surgical hospitals, ambulatory surgical centers, diagnostic imaging centers, and single and multi-specialty physician practices.

Ulrich graduated summa cum laude and holds a Bachelor of Business Administration in Financial Consulting from the Edwin L. Cox School of Business at Southern Methodist University. He is currently designated as a Certified Valuation Analyst (CVA) and is a member of the National Association of Certified Valuation Analysts.

Chance Sherer is a Managing Director at VMG Health and is based in the Denver office. He specializes in providing financial, valuation, and transaction advisory services to the firm’s healthcare clients. Chance’s clients include health systems, ambulatory surgery centers, surgical hospitals, oncology centers, diagnostic imaging centers, dialysis centers, physician groups, and numerous other ancillary healthcare service businesses. In addition to extensive valuation experience for transaction planning and financial reporting purposes, he has consulted on numerous development, feasibility, and recapitalization analyses for joint venture, restructuring, and de novo business development purposes.

Chance is a Certified Valuation Analyst (CVA) and is currently a member of the National Association of Certified Valuation Analysts (NACVA). He is also a member of the American Bar Association (ABA) Health Law Section and is a Subject Matter Expert in the Business and Transactions Interest Group. Chance received a Bachelor of Business Administration in Finance from the Cox School of Business at Southern Methodist University.

Colin McDermott is a Managing Director with VMG Health and is based in the Dallas office. McDermott leads a team of professionals performing fair market value studies, fairness opinions, and fair value analyses used for financial reporting, financial advisory services, and management consulting.  McDermott has particular valuation experience with health plans, hospital systems, ambulatory surgery centers, pharmacies, imaging centers, laboratories, home health and hospice agencies, and physician groups.

Additionally, McDermott often serves as a trusted financial advisor to clients and provides strategic advisory services as they contemplate a transaction. In this capacity, his experience includes financial advisory on behalf of buyer or seller, preliminary due diligence and support for evaluating transaction opportunities, merger or acquisition financial integration, divestiture planning, and feasibility or research studies.

McDermott frequently presents at industry conferences and publishes on healthcare and valuation-specific issues. He is also a contributor to VMG Health’s blog and healthcare valuation insights. McDermott serves on the planning committee for the AICPA Healthcare Industry Conference.

Prior to joining VMG Health, McDermott was Director in the Forensic and Litigation Consulting Group of FTI Consulting, Inc. and was an associate in KPMG’s Forensic and Litigation Consulting Group. In those roles, McDermott provided valuation and advisory services to firms in various industries, including healthcare, manufacturing, energy, and telecommunications.

McDermott received a Bachelor of Business Administration in Accounting and a Master of Science in Finance from Texas A&M University. He is a licensed Certified Public Accountant (CPA) in the state of Texas and holds both the Chartered Financial Analyst (CFA) and Accredited in Business Valuation (ABV) designations.

Cordell J. Mack is a Managing Director at VMG Health based in the Minneapolis office with over 19 years of experience in healthcare management and consulting. He specializes in helping provider clients with strategic and financial needs.

Mack has served a variety of clients across the country in various capacities related to health system positioning, capital/capacity availability, strategic planning, mergers and acquisitions, physician–health system partnerships, asset optimization, and performance improvement. He has served in a variety of leadership and administrative roles including owner/director of a sports medicine rehabilitation facility and administrator for a multispecialty clinic. Prior to joining VMG Health, Mack was a Partner at Health Care Futures.

A frequent author and speaker, Mack is a regular participant in regional and national HFMA and MGMA events on the topics of physician integration, service line joint ventures, and group performance.

Mack graduated with a bachelor’s and master’s degree in physical therapy from the University of North Dakota and a master’s degree in business from the University of Iowa.

Jaysen Park, based in Riverside, CA, is the Director in the Cybersecurity, Risk & Disputes division at VMG Health. He is an expert in data privacy, governance, and forensic technology, and he helps organizations respond to data breach incidents using artificial intelligence, analytics, and strategic stakeholder collaboration. He excels in providing actionable insights on forensic technology, cyber investigation, and eDiscovery.

Prior to joining VMG Health, Jaysen held national leadership roles at KPMG and BDO, where he drove technical innovation and pioneered emerging technologies. His experience includes spearheading technology initiatives at KPMG’s Washington DC Ignition Center, creating comprehensive technology strategies, and leading offshore virtual hosting services. He also played a key role in the firm’s forensic technology and eDiscovery services.

Jaysen earned his bachelor’s degree in biology from the University of California, Santa Cruz.

Brian Wilson, based in Chicago, IL, serves as the Managing Director in the Cybersecurity, Risk & Disputes division at VMG Health. With over 25 years of experience, Brian specializes in providing forensic accounting, cyber investigations, dispute, litigation, and risk advisory services. His global expertise spans corporate investigations, digital and mobile forensics, eDiscovery, and cyber investigations, offering organizations scalable, technology-driven solutions.

Before joining VMG Health, Brian held leadership roles across the United States, Asia, Europe, and the Middle East. He founded Dominion Cyber Forensics & Investigations and previously served as Managing Director and Global Head of Data Breach Advisory Services at BDO, as well as Partner at Deloitte China, and KPMG in both the U.S. and China. His work has focused on cyber incident responses, data breaches, and forensic investigations for major global firms.

Brian earned his Bachelor of Science in Business Administration from Valley City State University and pursued graduate studies in accounting at North Dakota State University.

Don Barbo is a Managing Director with VMG Health and leads the firm’s Litigation & Disputes valuation practice. He has performed valuations exclusively for the healthcare industry for over 23 years involving mergers and acquisitions, divestitures, partnership transactions, leasing arrangements, financial reporting matters, divorces, diminution of value, and commercial damages. His extensive healthcare valuation engagements have included hospitals (acute care, long-term care, critical access, behavioral health, and surgical), physician practices (variety of primary care and hospital-based), ambulatory surgery centers, diagnostic imaging centers, cardiac catheter labs, pathology and clinical labs, cancer treatment centers, and dialysis centers. Barbo has also performed engagements for various contracts between hospitals and physicians, including medical director agreements, on-call agreements, lithotripsy service agreements, professional services agreements, and management services agreements.

Barbo also serves as an expert witness in litigation matters for his clients and has an extensive testifying experience in various state and federal courts. His testifying experience involves a wide range of issues including whistle-blower actions, breach of contracts, shareholder disputes, bankruptcy and distressed businesses, and marital divorces. He has spoken extensively to various legal and valuation organizations and has published articles regarding healthcare business valuation issues. Prior to his valuation career, he served as the chief financial officer for a physician practice management company that provides management services to a variety of physician practices. Before that, he served as the controller/financial officer for various emerging companies. He began his professional career as an auditor with a Big 4 national accounting firm.

Barbo is a CPA, holds the Accreditation in Business Valuation from the AICPA, is a member of the Medical Group Management Association (MGMA), and is a member of the Healthcare Financial Management Association (HFMA). He also served on the Technical Advisory Board for the AICPA’s Forensics & Valuation Section Consulting Digest and the Financial Valuation and Litigation Expert newsletter. He holds a BBA in Accounting from Texas Tech University, and an MBA from the Cox School of Business at Southern Methodist University.

Areas of Expertise

Financial Due Diligence