Exhibit 99.3

Attribution of Value

USMD and UANT

February 2, 2011

Total Invested Sub Level Total Equity Corporate Level USMD UANT

Entity Capital Value Debt Value Debt% Own $ Value% Own $ Value

USMD Arlington 169,550,000 (46,320,000) 123,230,000 5.00% 6,161,500 22.63% 27,886,949

USMD FW Hospital 46,060,000 (19,660,000) 26,400,000 20.00% 5,280,000 10.88% 2,872,320

USMD Hospital Division 31,880,000—31,880,000 100.00% 31,880,000

USMD Cancer Division 27,450,000—27,450,000 100.00% 27,450,000

Willowbrook Cancer 10,870,000 (4,880,000) 5,990,000 30.00% 1,797,000

USMD Litho Division

Management 5,550,000—5,550,000 100.00% 5,550,000

Minority Partnership Interests 9,920,000 (130,000) 9,790,000 (7,690,000)* Varies 2,100,000

USMD, Inc. Holding Company (730,000) 100.00% (730,000)

UANT

Cancer 46,290,000—46,290,000 (9,460,000) 100.00% 36,830,000

Imaging 4,730,000—4,730,000 (380,000) 100.00% 4,350,000

Lab 7,890,000—7,890,000 100.00% 7,890,000

Research 880,000—880,000 100.00% 880,000

Practice (incl Video Uro) 5,370,000—5,370,000 (3,860,000) 100.00% 1,510,000

UANT Owned:

MetroStone Management 9,160,000—9,160,000 88.55% 8,111,180

Dallas Stone Management 9,030,000—9,030,000 34.05% 3,074,715

North Texas Stone Management 5,580,000 (200,000) 5,380,000 30.00% 1,614,000

Waxahachie Surgery Center 4.51% 41,000

US Urology 10.00% -

Linked Urology Research Network 20.00% -

UANT Ventures

Baylor Carrolton 1.14% 200,000

North Texas Hospital 0.88% 180,000

Neo—Alliance 51.52% -

UANT Ventures Corporate Debt (1,090,000) 100.00% (1,090,000)

UANT Litho Corporate Debt (1,210,000) 100.00% (1,210,000)

Net Enterprise Value 79,490,000 93,140,000

Deferred Payout Obligations—-

Working Capital Adjustment 3,270,000 (3,480,000)

Adjusted Equity Value 82,760,000 89,660,000

Relative Ownership Calculation

USMD UANT Total

Equity Value 82,760,000 89,660,000 172,420,000

Holdings Note - (30,000,000)(30,000,000)

Equity Contribution 82,760,000 59,660,000 142,420,000

Relative Value 58.1% 41.9% 100.0%

UANT Existing Ownership % -8.31% 8.31% 0.00%

UANT Existing Ownership $’s (6,880,000) 6,880,000 -

Effective Equity Ownership 75,880,000 66,540,000 142,420,000

Effective Ownership Split—Post Transaction

UANT vs Other Owners 53.3% 46.7% 100.0%

VMG HEALTH, LLC Page 1 CONFIDENTIAL

Valuation Comparison

Relative Values—FINAL 2009 vs DRAFT 2011

Previous Valuation—2009

Relative Ownership Calculation

USMD UANT Total

Equity Value 84,010,000 82,982,000 166,992,000

Holdings Note -(30,000,000)(30,000,000)

Equity Contribution 84,010,000 52,982,000 136,992,000

Relative Value 61.3% 38.7% 100.0%

UANT Existing Ownership % -8.31% 8.31% 0.00%

UANT Existing Ownership $’s (6,980,000) 6,980,000 -

Effective Equity Ownership 77,030,000 59,962,000 136,992,000

Effective Ownership Split—Post Transaction

UANT vs Other Owners 56.2% 43.8% 100.0%

Current Valuation—2011

Relative Ownership Calculation

USMD UANT Total

Equity Value 77,752,796 97,876,783 175,629,579

Holdings Note -(30,000,000)(30,000,000)

Equity Contribution 77,752,796 67,876,783 145,629,579

Relative Value 53.4% 46.6% 100.0%

UANT Existing Ownership % -8.31% 8.31% 0.00%

UANT Existing Ownership $’s (6,460,000) 6,460,000 -

Effective Equity Ownership 71,292,796 74,336,783 145,629,579

Effective Ownership Split—Post Transaction

UANT vs Other Owners 49.0% 51.0% 100.0%

VMG HEALTH, LLC

Confidential Relative Value Comparison

Valuation Comparison

UANT—FINAL 2009 vs DRAFT 2011

Total UANT Pro Rata—Equity Value

USMD Arlington Previous Current Variance Previous Current Variance

Total Invested Capital $ 192,880,000 $ 168,040,000 $ (24,840,000)

Interest-Bearing Debt $ (44,080,000) $(41,841,930) $ 2,238,071

Equity $ 148,800,000 $ 126,198,071 $ (22,601,930) $ 33,780,000 $ 28,558,623 $(5,221,377)

USMD Fort Worth Previous Current Variance Previous Current Variance

Total Invested Capital $ 60,230,000 $ 49,000,000 $ (11,230,000)

Interest-Bearing Debt $ (20,430,000) $(18,606,270) $ 1,823,730

Equity $ 39,800,000 $ 30,393,730 $ (9,406,270) $ 4,340,000 $ 3,306,838 $(1,033,162)

UANT Cancer Previous Current Variance Previous Current Variance

Total Invested Capital $ 28,040,000 $ 48,730,000 $ 20,690,000

Interest-Bearing Debt $ (7,160,000) $(9,459,683) $ (2,299,683)

Equity $ 20,880,000 $ 39,270,317 $ 18,390,317 $ 20,880,000 $ 39,270,317 $ 18,390,317

UANT Imaging Previous Current Variance Previous Current Variance

Total Invested Capital $ 4,490,000 $ 4,400,000 $ (90,000)

Interest-Bearing Debt $ -

Equity $ 4,490,000 $ 4,400,000 $ (90,000) $ 4,490,000 $ 4,400,000 $(90,000)

UANT Research Previous Current Variance Previous Current Variance

Total Invested Capital $ 890,000 $ 890,000

Interest-Bearing Debt $ -

Equity $—$ 890,000 $ 890,000 $—$ 890,000 $ 890,000

UANT Lab Previous Current Variance Previous Current Variance

Total Invested Capital $ 9,530,000 $ 7,910,000 $ (1,620,000)

Interest-Bearing Debt $ -

Equity $ 9,530,000 $ 7,910,000 $ (1,620,000) $ 9,530,000 $ 7,910,000 $(1,620,000)

VMG HEALTH, LLC

Confidential UANT

Valuation Comparison

UANT—FINAL 2009 vs DRAFT 2011

Total UANT Pro Rata—Equity Value

USMD Practice (incl Video Uro)* Previous Current Variance Previous Current Variance

Total Invested Capital $ 5,560,000 $ 6,870,000 $ 1,310,000 Interest-Bearing Debt $ —$ -

Equity $ 5,560,000 $ 6,870,000 $ 1,310,000 $ 5,560,000 $ 6,870,000 $ 1,310,000

* Estimated value of Video Uro tangible assets were included in 2009 value for comparability to current valuation.

MetroStone Management $ 7,370,000 $ 8,111,180 $ 741,180 Dallas Stone Management $ 3,020,000 $ 3,074,715 $ 54,715 North Texas Stone Management $ 1,940,000 $ 1,615,080 $ (324,920)

Other Investments $ 402,000 $ 421,000 $ 19,000 UANT Corporate Debt $ (8,330,000) $ (6,550,970) $ 1,779,030 UANT Totals $ 82,982,000 $ 97,876,783 $ 14,894,783

VMG HEALTH, LLC

Confidential UANT

Valuation Comparison

USMD—FINAL 2009 vs DRAFT 2011

Total USMD Pro Rata—Equity Value

USMD Arlington Previous Current Variance Previous Current Variance

Total Invested Capital $ 192,880,000 $ 168,040,000 $ (24,840,000)

Interest-Bearing Debt $ (44,080,000) $ (41,841,930) $ 2,238,071

Equity $ 148,800,000 $ 126,198,071 $ (22,601,930) $ 7,440,000 $ 6,309,904 $(1,130,096)

USMD Fort Worth Previous Current Variance Previous Current Variance

Total Invested Capital $ 60,230,000 $ 49,000,000 $ (11,230,000)

Interest-Bearing Debt $ (20,430,000) $ (18,606,270) $ 1,823,730

Equity $ 39,800,000 $ 30,393,730 $ (9,406,270) $ 7,960,000 $ 6,078,746 $(1,881,254)

USMD Hospital Division Previous Current Variance Previous Current Variance

Total Invested Capital $ 29,980,000 $ 31,500,000 $ 1,520,000

Interest-Bearing Debt $—$—$ -

Equity $ 29,980,000 $ 31,500,000 $ 1,520,000 $ 29,980,000 $ 31,500,000 $ 1,520,000

USMD Cancer Division Previous Current Variance Previous Current Variance

Total Invested Capital $ 32,250,000 $ 27,080,000 $ (5,170,000)

Interest-Bearing Debt $—$—$ -

Equity $ 32,250,000 $ 27,080,000 $ (5,170,000) $ 32,250,000 $ 27,080,000 $(5,170,000)

Willowbrook Previous Current Variance Previous Current Variance

Total Invested Capital $ 10,550,000 $ 10,870,000 $ 320,000

Interest-Bearing Debt $ (4,900,000) $ (4,881,415) $ 18,585

Equity $ 5,650,000 $ 5,988,585 $ 338,585 $ 1,700,000 $ 1,796,576 $ 96,576

USMD Litho Division Previous Current Variance Previous Current Variance

Total Invested Capital—Management $ 5,560,000 $ 3,820,000 $ (1,740,000)

Total Invested Capital—Partnerships $ 10,650,000 $ 9,850,000 $ (800,000)

Interest-Bearing Debt $ (90,000) $ (131,052) $ (41,052)

Equity $ 16,120,000 $ 13,538,948 $ (2,581,052) $ 16,120,000 $ 13,538,948 $(2,581,052)

USMD Holdings Debt $(11,440,000) $(8,551,377) $ 2,888,623

USMD Totals $ 84,010,000 $ 77,752,796 $(6,257,204)

VMG HEALTH, LLC

Confidential USMD