Patrick Kendall

Contact Patrick Kendall

Patrick Kendall

Patrick has more than 10 years of experience leading valuations for nonprofit and for-profit healthcare entities. He has specific expertise in mergers and acquisitions, financial reporting, and corporate compliance.

About Patrick

Patrick has more than a decade of experience providing financial and valuation services for mergers and acquisitions, financial reporting, and corporate compliance. He has assisted and led hundreds of projects, delivering industry-leading analyses for nonprofit and for-profit healthcare entities and has expertise with specific intangible assets, the carve-out of departments of hospitals, and purchase price allocations for financial reporting.

Throughout his career, Patrick has:

  • Performed multiple business valuations for a variety of entities in the healthcare industry, including acute care and specialty hospitals, rehabilitation hospitals, multispecialty physician practices, ambulatory surgery centers, imaging businesses, healthcare information technology (HCIT) firms and long-term care facilities.
  • Executed purchase price allocations and impairment tests of intangible and tangible assets for many for-profit healthcare companies. Examples of intangible assets valued include goodwill, noncompetition agreements, certificate of need (CON) licenses, customer relationships and technology.
  • Provided merger and acquisition advisory analyses, including reviewing third-party firms’ valuation reports to help clients deem whether they conform with industry standards as well as providing market data, multiples and potential opportunities for clients looking to make acquisitions or be acquired.
  • Determined the value of contributions to a joint venture between a nonprofit and a for-profit healthcare entity by valuing the assets contributed by each party for inpatient and outpatient rehabilitation businesses, long-term acute care hospitals, dialysis facilities and psychiatric units.
  • Valued CONs not in use acquired by a party that would otherwise not be able to obtain one due to a moratorium or lack of availability in the subject state.

Patrick is a member of the American Institute of Certified Public Accountants and the American Society of Appraisers.

Patrick holds a Bachelor of Science in finance and accounting from Indiana University. He is also a certified public accountant in Illinois and is accredited by the American Institute of Certified Public Accountants in business valuation (ABV).

Areas of Expertise

  • Valuation


  • Healthcare

Education & Certifications

  • B.S., Indiana University
  • Certified Public Accountant, Illinois
  • Accredited by the American Institute of Certified Public Accountants in Business Valuation


  • Maximizing Value in a Nonprofit/For-Profit Joint Venture

    Read More

    Gain a better idea of what an asset like a hospital service line is worth before pursuing a joint venture by looking at more than just service line contributions.

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