| Principle Valuation, LLC specializes in the valuation of hospitals, senior housing, and related entities. Our professionals are experts in the healthcare industry and posess in-depth knowledge of the operations of healthcare facilities. |
| David Felsenthal dsf@principlevaluation.com David Felsenthal is well known in the industry as the nation's foremost expert on hospital valuation. David founded Valuation Counselors in 1970 after being responsible for hospital valuations at another firm. He served as president of Valuation Counselors until late 1989 and remained with the firm as a managing director until 2001. David was then the Principal in charge of valuations at another large hospital and valuation firm until joining Principle Valuation in 2007. David Felsenthal is named "The dean of hospital valuation" by Modern Healthcare. |
| Timothy Baker tbaker@principlevaluation.com Timothy Baker has been in the appraisal industry since 1981 with a concentration on healthcare and senior living properties. His valuation experience includes valuing business enterprises, real estate, and personal property, and he has worked on a national and international basis. Consulting engagements include market and financial feasibility studies. Timothy has experience in the valuation of numerous healthcare facilities including acute-care, behavioral health, and rehabilitation hospitals. He has performed valuations for all types of seniors housing from skilled nursing facilities to CCRCs and other operations including research facilities, healthcare leasing companies, physician practices, and medical office buildings, among others. Mr. Baker has also provided consultations on market assessment, demand analysis, reimbursement issues, and development of fixed asset records and has provided analysis of strategic opportunities. Valuation reports prepared by Mr. Baker have been used for many purposes including public offerings, litigation support, acquisitions, divestitures, property tax disputes, state reimbursements, estate planning, and internal management decision making. |
| Patrick Simers psimers@principlevaluation.com Patrick Simers has been in the healthcare appraisal industry since 1982. His career has focused on the valuation of healthcare enterprises including acute care hospitals, specialty care facilities, and long-term care centers. Mr. Simers has expertise in valuing tangible and intangible assets associated with healthcare enterprises, including capital stock, medical specialty and physician joint ventures, fee simple, leased fee, and leasehold interests in real estate, movable equipment, certificates of need, contractual agreements, and preferred provider arrangements. Pat has assisted his clients in establishing a proper allocation of fixed and intangible assets for SFAS 141. He has also consulted with hospital systems and their legal Counsel to secure their compliance with Anti-kickback statutes and Stark laws in physician transactions. Pat has served some of the largest healthcare providers in the industry with strategic valuation decisions concerning potential acquisitions and divestitures. Pat has testified as an expert witness in Federal Bankruptcy Court and has helped his clients negotiate with third parties to arrive at fair market and fair rental assessments. In addition to his business expertise, Mr. Simers has obtained Certified General Real Estate Appraiser licenses in several states. |
| Michael Baldwin mbaldwin@principlevaluation.com Michael Baldwin has completed hundreds of seniors housing and healthcare appraisals, market studies, feasibility studies, and other consulting assignments nationwide. His expertise includes the valuation of business enterprises, real estate, and personal property for existing as well as proposed continuing care retirement communities, independent living communities, assisted living residences, skilled nursing facilities, hospitals, and medical office buildings. He has assisted lenders, developers, operators, brokers, and litigators with their valuation and consulting needs in the seniors housing and healthcare industry. Michael is an advanced MAI candidate of the Appraisal Institute and plans to achieve designation in 2009. He is also currently enrolled in the MBA program at the University of Chicago Booth School of Business and graduated Magna Cum Laude with Bachelor's Degrees in Finance and Real Estate from Florida State University. |
| Other Professionals Principle Valuation's team also consists of various additional real estate appraisers and other experts in equipment valuation, business valuation, and architecture with hundreds of years of combined experience in the healthcare industry. |