October 23, 2008
Global Healthcare & Education Management, Inc. Issues Letter to Shareholders
SYOSSET, N.Y., Oct. 23 /PRNewswire-FirstCall/ -- Global Healthcare & Education Management, Inc. (Pinksheets: GHEU) is a holding company whose primary subsidiary holding is the University of Sint Eustatius School of Medicine located on the Caribbean Island of Sint Eustatius, also known as Statia. Sint Eustatius is under the Dutch flag and is located about 30 miles from the island of St. Martin. The island has 3,000 full time residents, it provides a sheltered island, where students concentrate their time in a focused manner -- with the sole aim of completing their medical studies on a successful basis.
The last year has been a momentous one in which our medical school subsidiary on the Island of Sint Eustatius has grown to the largest point in our history and we wanted to provide our investors with an update on the company and our Sint Eustatius School of Medicine subsidiary. Our current student enrollment now exceeds 400 students, half of which are on-island residents, and the other half are deployed in clinical rotations in the U.S.
The University is in the hands of new academic and management talent. Led by pioneering physician and author Dr. Leonard Wisneski, this team has the combined vision, knowledge and skill to steward the school to academic and financial success. We will be adding other talented professors and educators as worldwide demand for doctor's soars and our medical school enrolments continue to climb.
One of the greatest challenges that Sint Eustatius faces is that of financing of our student's educations. The current financial market turmoil and credit crisis being experienced in the U.S. is now spreading to global markets. Enrollment, student pass rates, and university applications are at an all time high, but it means little if there is not funding there to finance our student's educations. Qualifying for student loans and securing credit is becoming harder day by day and this can potentially negatively impact the university's student enrollments if tuition funding solutions are not secured. To that end, our top priority is securing readily available sources of credit and financing for our current student population. Management is currently working with five new sources for student loans and we are very optimistic that long term tuition funding solutions will be secured in the very near future.
The company is looking to the future and has contracted to buy a piece of land of more than twenty-three acres on which to build a new campus. The university currently leases facilities on the island. This has worked out very well, but in looking to the future we want to build out our own classroom, administrative and student housing facilities. The School's expansion plan is to develop, on a staged basis, new student lecture halls, laboratories, a library, a testing center and study areas, and student facilities including dormitories, cafeterias, laundry, book store, administrative center and recreational areas. Plans also include an area which will accommodate post graduate education and a research center to accommodate specialized educational programs and grant-funded research.
Management and the university staff are always working to initiate new programs to better teach existing students and make the medical school environment more challenging and inspiring. Given the projected 2020 shortfall of over 200,000 physicians in the United States and serious worldwide shortages of physicians is expected to grow into the foreseeable future. Market demand and profit potential for new medical universities looking to help fill a growing need for new medical graduates is excellent.
We will work to provide operational updates to investors periodically and hope you will continue to follow our progress.
Global Healthcare & Education Management, Inc.
CONTACT: Daniel Turetsky, +1-516-656-3557, [email protected]
Web Site: http://www.eustatiusmed.edu/board-of-governors.html