SYRIAN AMERICAN MEDICAL CENTER A project for life

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SYRIAN AMERICAN MEDICAL CENTER A project for
life a winning concept
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Concept
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Find a need fill a need
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Private invitation private offering for
potential partners and share holdersFinancial
and legal structure
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Syrian American Medical Center (SAMC)

• Comprehensive and state of the art medical
  complex projected to be built in Mazzeh, west
  villas, Damascus, Syria
  
• Based on the American model of a comprehensive
  mid - size community/ small academic medical
  centers in the USA

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Current owners of the projects

• 25 MDs currently own the project (8 founders)
• currently own all shares of Syrian American
  Medical Center
  
• Founders are responsible directly or via
  contractors for all the logistic needs of the
  project, including management of the project ,
  financial, PR. Etc. until the project is
  completed and operational
• Oversees, and supervises the progress,
  construction and sales of the project including
  future sales by members.

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Components of the project
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Syrian American specialty Hospital (SASH)

• Licensed for up to 600 hundred beds (to avoid
  problems in the future if we need to expand) but
  the plan to have 300 beds including 30 ICU beds
  
• 13 floors
• 3 parking decks underground
• Located in west Mazzeh
• Multiple specialty centers (Heart, Dialysis,
  cancer , etc)
  
• 14 operating rooms (Specialty rooms- Cardiac-
  Ortho- Transplant- GYN- Neuro- Etc.)
  
• 4 out pt procedures suites

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Syrian American specialty Hospital (SASH)

• The hospital will be run in a similar fashion to
  the hospitals in the USA
  
• Two aspects of management (governing bodies)
• Medical with departments-divisions and
  committees (including Ethics- credentialing-
  bylaws etc. and this will be done by voting and
  election among medical staff)
• Business Board members by election and
  management team with CEO-CFO Etc appointed by the
  board based on the hospital bylaws. (this will
  start 2 years after opening date)

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Boards in the hospital

• Board of directors 7 members are chosen by
  elections, according to company bylaws
  
• At least 3 or more members are physicians
• time limit
• responsible to share holders (general assembly,
  which is the ultimate power)

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Advisory Board

• 11 members
• Can be owners or none owners
• Can be none physicians
• Well-known figures in the community
• To help guide and support the board of directors
  and help in the social and charitable programs of
  the operation when fully developed

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Foreign affiliation

• We are trying to create affiliation with other
  centers, universities and academic centers in the
  USA, Europe and the region
  
• We have commitment from the US embassy and
  department of state to help our members and
  employees to go abroad for further training to
  built an infrastructure and a core of qualified
  nursing and service staff

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Stages of SASH
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Founding Members (FM)

• FMs are the initial eight members (American board
  Certified Doctors)
  
• who came up with the idea of the project, worked
  on securing and acquiring the land
  
• laid the ground for the project to come to light,
  worked closely with the architectural teams,
  consultants, and engineering firms in Syria, and
  the United State
• Established an office near the site of the
  building
  

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Founding Members (FM)

• The founding members individually will own at the
  end a minimum of 2
  
• Founding members, spent significant effort, time,
  and financial resources to get the project to its
  current status including thousands of hours for
  meetings and conferences, and multiple trips
  inside the United State, and to Syria.

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medical member (MM)

• MMs are the none founding members who are
  healthcare providers, and have privileges to
  practice at SASH.
  
• there are no special privileges to the founding
  members once the hospital operational but they
  are the current members of the board
  

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Current Status of shares
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Current Status of finance
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Public Member (PM)

• PMs are none healthcare providers who will own
  shares in SASH
  
• (60 of SASH shares will be offered to the
  medical members and the public)
  
• We have a significant number of investors wanting
  to invest but our interest in the medical members

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Professional Medical Buildings (PMB)

• Office suites are available for lease on site for
  reasonable rate, we can even do long term lease
  
• It will be based on first come, first serve
• If the government will allow us to sell these
  offices at the end of the project, we will do
  that based on open books calculations and the
  price will be cost plus 20 at the time of
  completion
• The current members will be tenants of these
  buildings and will have clinics
  

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Professional Medical Buildings (PMB)

• The current members will be tenants of these
  buildings and will have clinics (same concept
  of long term lease or sale if approved by the
  government)
• We will dedicate 3-4 floors in building 2 for
  short stay suites for families, visitors, part
  time doctors and staff
  

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Future planned projects we are considering

• Residential projects
• More office buildings
• Nursing and healthcare professional schools and
  training centers
  
• Rehab, ALF, NH
• Research center
• Pharmaceuticals

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The hospital project Syrian American Specialty
HospitalSASH

• Financial legal overview

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Ownership as of January-25th-08

• 100 shares
• Founding Members 30
• Medical Members 10
• Available shares 60

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Projected cost of the hospitalSASH

• About 75 million dollars
• For hospital building

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Open books system

• In order to avoid any misrepresentation, or error
  in the estimate we are using the following method
  in estimating the total cost of SASH and the cost
  per share

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• Total final cost of the project depends on actual
  cost of the building (fluctuation of labor and
  material cost) cost of equipments, and
  fluctuation of dollar to Syrian lira exchange
  rate

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Total hospital cost

• Total SASH cost (TSC)
• Current appraised value CAV)
• actual building cost
• Equipment cost

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current appraised value CAV

• The land value is estimated based on evaluations
  done by experts who did the Feasibility study and
  comparison to other lands in the area and in
  Damascus
• This was done before the land prices in general
  took off and increased
  
• The dollar exchange rate was 55 SP

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CAV

• Also currently we have permits for the hospital
  which should make or land more valuable
  
• We did not get the land as a gift and we paid the
  estimated actual value at the time of purchase
  form the government
  

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Other expenses

• Legal expenses
• Permitting fees (MOHAFAZA)
• Permitting fees (Engineering)
• Permitting fees (Ministry of health)
• Employees, and offices expenses in Syria, and
  USA
  
• Marketing
• All other expenses as of today

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Data about this land

• Location Mazzeh west villa
• Land size 10 donoms
• - 8 donoms allocated to hospital
• - 2 donoms allocated to offices
• Commercial zoning was granted
• Size of hospital building is about 42,000 SM

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why are we here?

• We are now in the construction phase
• The project is not a dream anymore
• We want to have more doctors with your caliper in
  the project
  
• We want to try to limit non doctors in the project

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Continue

• Our interest is completion of the project
• We will make profit as we increase the value of
  the shares over the next few years, this will
  compensate us for the current value
  
• We are interested in you

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So ??

• We will sell 5-10 of the hospital project at a
  discounted price just for special doctors that
  we are interested in having them on our team
  
• This is less than the current value of the land
• This opportunity is only available till the end
  3-15- 2008
  
• If the 10 is gone before that time, we will have
  to raise the price so it will be based on first
  come first served
  
• Next phase will be offered to the public and
  based on share price profit and not actual value

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Actual building cost

• funds needed to pay for building the hospital
  building, and equipment will be equal among
  partners based on of shares owned
  
• This will be open book and actual value, and will
  be the assets of hospital
  
• This does not include any cost to build the
  offices so you are not subsidizing the office
  buildings
  

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Consulates

• In house accountant
• Auditor and financial advisor Ernest and Young
• Legal representation
• SCB Feasibility study (economist)
• 2 firms for auditing the designs in USA and in
  Syria to be JHACO compliant
  

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Actual building cost

• this is currently estimated to be (45) million
  dollars for the building depending on fluctuation
  of building material and labor cost, also on the
  exchange rate, this amount will be paid and
  charged to members, based on actual cost, with
  open books system
• You will be paying the same rate as the founding
  members
  

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Capital equipments and furniture (CEF )

• early stage equipments for 150 beds with 8 ORs/
  procedures rooms, one MRI, one CT scan, Pet scan,
  this will be budgeted for by 15 million dollars
  as part of the shares cost (13 millions for
  equipments and 2 millions for working capital for
  the first 6 months of hospital work),
• this number would fluctuate based on actual
  prices of equipments in the future, we will use
  open book policy for accounting purposes
  

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• final stage equipment for the whole hospital
  same as A without the working capital (10
  millions)
  

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advantages of the stage system

• staggering of the capital for equipments
• buying equipments as needed
• getting up to date equipments (by waiting 2 years
  for stage B, new technologies and standers maybe
  available)
  
• the use of staffing and resources would be
  proportionate to the growth of the business in
  SASH so this will eliminate waste and over
  staffing.

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Estimated Total projected cost today

• Land cost
• Soft cost and construction
• 15 millions reserve for equipment
• About 75 millions

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Time table

• Now we are finalizing the choice of contractor
• Breaking ground will in June (guests of honors
  from the Syrian, and American governments will be
  part of the ceremony (exact date will be
  announced)
• Starting field work is anticipated to be in
  june-08
  
• Finishing of hospital building estimated to be in
  36- 42 MONTHS (2011)

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What if you can not fulfill payments?

• Your share will be given back to founding group
• You will get a credit for 90 of the amount you
  paid,
  
• 10 will be deducted for administrative fees and
  penalty
  
• Please buy what you can afford

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Can I invest without practicing?

• Yes you can
• Our believe that if you participate in the
  project , you will be encouraged to practice
  because of the quality of care and the
  satisfaction that you will get from practicing
  even as part time
• To practice you have to be credentialed

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Why do I need to invest early?

• Price will be increased as time pass
• Most of the risks are over now (finding the
  lands, permits, infrastructure, Etc.)
  
• The payments will be spread over longer period of
  time (next 2-3 years)
  
• You will have the right to participate in other
  future projects on the ground floor

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Can the project stop in the middle?

• unlikely
• we are committed financially to complete the
  project We have potential foreign investors
  waiting to invest
  
• There is tremendousness interest and support form
  the government officials to make this project
  successful
  
• Other factors are beyond our control

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Are there loans involved

• The SAMC might take construction loans to finish
  the project.
  
• Members are not obligated indivisibly to be part
  of the loan or participate in it
  
• Discussions with accountants lead us to have a
  possible structure where members who dose not
  want to have loans will not get charged interest
  and they will be not liable personally for the
  loan

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What is next?

• If you are interested, please contact us for more
  details
  
• Confidential agreement
• Contract presentation
• Contract execution
• Congratulations and welcome aboard

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contacts

• If you have any questions please do not hesitate
  to call
  
• Ammar Hemaidan MD
• CEO
• Alhuda Sq. building 30/G
• Mazzeh Gabal
• Damascus Syria
• Tel [phone]
• Fax[phone]
• USA (1386) 795-4324
• ceo_at_immcs.com
• WWW.SyrianAmericanMedicaalCenter.com

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