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Greater Medical Center Group Receives Major Funding From MELCO Investments
Date:7/23/2008

Dr. Stephen Cohen Hired As New CEO

ATLANTA, July 23 /PRNewswire/ -- The Greater Medical Center Group (GMCG) announced today that MELCO Investments LLC, a private business and real estate investment fund, has signed on as a key partner with a substantial capital investment in GMCG. Along with the investment, GMCG has also appointed Dr. Stephen Cohen, one of Atlanta's leading colon and rectal surgeons, as its new CEO.

(Photo: http://www.newscom.com/cgi-bin/prnh/20080723/NYW047 )

Founded in 2000, GMCG is the nation's largest network of medical professionals and educators united to provide standardized clinical training to national and international medical graduates in preparation for U.S. residency. The organization, headquartered in Atlanta, Georgia began as a collaborative effort to mitigate the country's growing physician shortage by helping recruit and train U.S. and foreign-born medical students. GMCG has directly supervised more than 15,000 medical student clinical rotation weeks to date.

"As we approach 2020 with an estimated 85,000 to 250,000 shortage of physicians, MELCO Investment's support of our work is allowing us to rapidly expand our capacity and address this critical situation," Dr. Cohen said. "While doing so, Greater Medical Center Group is simultaneously ensuring that all medical students, whether U.S. or foreign born, are properly equipped to deliver quality healthcare services within the U.S."

Dr. Cohen notes that the capital from MELCO will be used primarily to expand its current education initiatives and strengthen its affiliate partnerships. Efforts will focus on increasing the Accreditation Council for Graduate Medical Education (ACGME) clinical rotations that GMCG currently offers in addition to contracting with more hospitals throughout the country to provide these services. Through their work, GMCG hopes to provide hospitals, especially those in rural communities, with accredited rotation programs that will help these hospitals increase their physician recruitment and retention rates. To date, GMCG has worked with various hospitals in Atlanta, New York, Florida, and Ohio.

The transaction, finalized this summer, was negotiated by Ivy Ridge Capital Consulting, Inc.

One Georgia Bank of Atlanta provided the Senior Banking Financing.

About the Greater Medical Center Group

The Greater Medical Center Group (GMCG) is a provider of U.S. Clerkships for International Medical Students and Graduates. As a network of professionals and educators, GMCG's mission is to standardize the clinical experience of medical students educated abroad while providing support services to international medical schools. Key executives are Dr. Stephen M. Cohen, Chief Executive Officer; Milo D. Pinckney, President; Terald L. Melton, Chief Financial Officer; Petra Woods, General Manager. For more information visit http://www.gmcgroup.org.

About MELCO Investments

MELCO Investments, LLC is a private real estate and business investment fund. MELCO primarily invests in small to middle market businesses and commercial real estate projects located in the southeastern United States. MELCO seeks opportunities to significantly develop, redevelop or reposition commercial real estate assets and/or opportunities to invest in and grow operating businesses that will yield annual returns on its investment in excess of thirty percent (30%) per annum. MELCO is actively managed by Ivy Ridge Capital Consulting, Inc., Smyrna, Georgia.

Ivy Ridge Capital Consulting, Inc.

Ivy Ridge Capital Consulting, Inc. is a capital advisory, real estate development, investment, sales and general management consulting firm. With its corporate headquarters located in Smyrna, Georgia, it's professional team with well over 50 years in combined industry and business experience primarily serves small to middle market real estate and business clients located throughout the United States.


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SOURCE Greater Medical Center Group
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