EXHIBIT 10.26
To: Xx. XXXXXXXX XXXX
From: Xx. Xxxx Ciging, Chairwoman of Board,
Shantou Hongyuan Economic Industry & Trade Co., LTD
TURNKEY HOSPITAL PURCHASE AGREEMENT
1. SELLER
NEUROTECH DEVELOPMENT CORPORATION, LOCATED AT 00 XXXXXXX XXXXXX, XXXXXXXXX,
XXX XXXX, 00000, XXX. A REGISTERED DELAWARE CORPORATION HEREBY REFERRED TO AS
THE SELLER.
2. PURCHASOR
THE CHAOSHAN HOSPITAL, HONGYUAN ECONOMIC INDUSTRY TRADE CO. LTD., HEREINAFTER
REFERRED TO AS THE PURCHASOR. THAT THE PURCHASOR WILL BE THE OPERATOR OF THE
HOSPITAL. THE PURCHASOR IS ENTERING INTO THIS AGREEMENT WITH FULL CORPORATE
INTENT AND LEGAL RESPONSIBILITY IN ACCORDANCE WITH THE GOVERNING LAWS OF THE
PEOPLES REPUBLIC OF CHINA.
3. QUALITY STANDARDS
THE PURCHASOR WILL MAINTAIN THE QUALITY STANDARDS SET FORTH BY THE SELLER IN THE
TRAINING PROGRAM OF THE HOSPITALS NAMED IN THIS AGREEMENT.
4. DESCRIPTION OF HOSPITALS
THIS HOSPITAL WILL BE A COMPLETE TURNKEY TERTIARY CARE FACILITY WITH TRAUMA
CENTER AND WILL BE ERECTED IN 4 PHASES.
SIZE HOSPITAL 2000,000 SQ. FT. SET UP WITH MAX OCCUPANCY OF 500 BEDS
HOSPITALS SHALL CONSIST OF: PREFABRICATED CONCRETE BUILDINGS
ALL DIAGNOSTIC AND LABORATORY EQUIPMENT (PER BOOK)
OPERATING ROOM EQUIPMENT
EMERGENCY ROOM EQUIPMENT
PHARMACY EQUIPMENT
ALL PHARMACEUTICALS
ALL MEDICAL DISPOSABLES
COMPUTERIZED BILLING AND ACCOUNTING SYSTEMS
MEDICAL RECORDS SYSTEMS
RADIOLOGY ALL DISCIPLINES
LABORATORY FACILITIES
CARDIOLOGY
ONCOLOGY
NEUROLOGY
ICU
BURN UNIT
MICROSURGERY
OB/GYN
PEDIATRICS
ORTHOPEDIC
UROLOGY
RESEARCH CENTRE
CONSTRUCTION STANDARD: USA
PHARMACEUTICAL STANDARD: USA
EQUIPMENT STANDARD: USA
HEALTH PRACTICE CODE: USA
5. SERVICES PROVIDED BY SELLER
ANCILLARY SERVICES: STAFF TRAINING IN USA
MEDICAL STAFF: FULL MEDICAL STAFF
LABORATORY STAFF
ADMINISTRATIVE STAFF
SUPPORT SERVICES ONLY: MAINTENANCE SUPERVISOR
HOUSEKEEPING
DIETARY SUPERVISORS
6. DEPOSIT
NORMAL DEPOSIT REQUIREMENTS ARE HEREBY WAIVED.
7. NON EXCLUSIVITY
THE HOSPITALS ARE SOLD ON A NON EXCLUSIVE BASIS. THE NAMES "GLOBAL HEALTH"
AND "NEUROTECH CORPORATION" CANNOT BE USED IN THE OPERATING NAME OF THE
HOSPITAL.
8. CONTRACTUAL ORDER OF PROCEDURES
UPON EXECUTION OF THIS CONTRACT AND RECEIPT OF DEPOSIT, GLOBAL HEALTH
TECHNICAL TEAM WILL ARRIVE AT SITE, BEGIN PUBLIC HEALTH STUDY, OPERATING
STUDY, AND PREPARE FINAL REPORT AND FINAL BUDGETARY PROPOSAL.
THIS REPORT SHALL CONSIST OF RECOMMENDED FINAL CONFIGURATION AND DRAWINGS FOR
THE HOSPITAL, DEPENDENT ON POPULATION, SERVICE AREA, PUBLIC HEALTH ETC.
TECHNICAL STAFF ADMINISTRATOR WILL REMAIN AND BEGIN INTERVIEWS AND SELECTION
OF HOSPITAL STAFF WITH PURCHASOR.
9. APPROVALS REQUIRED
PURCHASOR WILL SUBMIT FINAL PLANS TO THE CHAOYANG MUNICIPAL GOVERNMENT FOR
APPROVAL.
10. PAYMENT
UPON PURCHASORS ACCEPTANCE OF FINAL REPORT AND MODEL, PURCHASOR BANK WILL
OPEN BANK GUARANTY WITH THE BANK OF CHINA FOR CONSTRUCTION OF THE PROPOSED
HOSPITAL(S).
11. DELIVERY TIME
THERE IS 1 HOSPITAL IN THIS CONTRACT. THE HOSPITAL WILL BE COMPLETED IN 4
PHASES AND PHASE I OPENED 15 MONTHS FROM THE COMMENCEMENT DATE, PHASE II,
OPENED 30 MONTHS FROM THE COMMENCEMENT DATE, PHASE III OPENED 42 MONTHS OF
THE COMMENCEMENT DATE, AND PHASE IV OPENED 48 MONTHS FROM THE COMMENCEMENT
DATE. COMPLETION TIMES MAY BE EFFECTED BY DRAFTING MODIFICATIONS AND
GOVERNMENTAL APPROVALS.
12. TRAINING
STAFF TRAINING SHALL COMMENCE AT THE BEGINNING OF THE MANUFACTURING PROCESS.
AIR TRANSPORTATION, EMPLOYEE SALARIES, MEALS, ARE THE RESPONSIBILITY OF THE
PURCHASOR.
TRAINING SHALL TAKE PLACE AT THE UNIVERSITY OF TEXAS, AT GALVESTON OR ANY
OTHER NEUROTECH AFFILIATED SCHOOL.
THERE WILL BE 4 CLASSES EACH TIMED FOR THE DELIVERY OF THE HOSPITAL PHASE
FOR THAT PERIOD.
13. ADMINISTRATOR
AN AMERICAN ADMINISTRATOR WILL REMAIN FOR THE FIRST 6 MONTHS OF OPERATION AT
THE EXPENSE OF THE SELLER.
14. FINANCING
FINANCING IS PROVIDED BY THIRD PARTY PROVIDERS, SUCH AS BANKS, INSURANCE
COMPANIES, MORTGAGE COMPANIES, EQUITY INVESTORS AS WELL AS THE EQUITY FUNDS
OF THE PURCHASOR.
15. PURCHASOR PROVIDES
LAND
ROAD
ELECTRICITY
FRESH WATER
SEWAGE
CONTRACT 1. PURCHASOR WILL PLACE HOSPITALS (MINIMUM 1 HECTARE/SITE)
16. PRICING
THIS HOSPITAL IS PRICED AT $85,000,000 USD INCLUSIVE OF DELIVERY AND
INSTALLATION AND TRAINING COSTS.
PRICING MAY VARY IN ACCORDANCE WITH FINAL SPECIFICATIONS AND RECOMMENDATIONS OF
TECHNICAL COMMITTEE AND/OR PURCHASOR.
17. ENDORSEMENTS
THIS HOSPITAL PROJECT HAS BEEN SUBMITTED TO THE WORLD COUNCIL OF PEOPLES FOR THE
UNITED NATIONS FOR ENDORSEMENT AS A HUMANITARIAN PROJECT, AND AS SUCH MAY USE
THIS ENDORSEMENT WHEN SEEKING FINANCING, AND GOVERNMENTAL APPROVAL. THE WORLD
COUNCIL MAINTAINS AN OFFICE IN BEIJING WHOSE ADDRESS APPEARS BELOW;
WORLD COUNCIL OF PEOPLES FOR THE UNITED NATIONS
INTERNATIONAL HOTEL OFFICE TOWER
SUITE 4022
XXXX XXX MEN WEI
BEIJING, CHINA 100005
18. GOVERNING LAW
THIS CONTRACT SHALL BE DEEMED VALID AND SUBJECT TO THE LAWS OF PEOPLES REPUBLIC
OF CHINA.
19. LOCATIONS
THE HOSPITALS SHALL BE ERECTED IN THE AREA APPROVED BY THE MUNICIPALITY OF
CHAOYANG. MODIFICATIONS IN DESIGN REQUIRED BY GEOGRAPHICAL LOCATION, WILL BE THE
RESPONSIBILITY OF THE PURCHASOR.
SUCH SPECIAL CONDITIONS INCLUDE CONSTANT POWER GENERATION, MEDICAL WASTE
DISPOSAL UNIT, FLOOD PLAN, EARTHQUAKE ETC.
A SEPARATE PUBLIC HEALTH ANALYSIS WILL BE DONE FOR THE AREA.
20. RECOGNIZED AGENTS
THE FOLLOWING AGENTS ARE RECOGNIZED AS AGENTS FOR THE SELLER
GRACE FAME INDUSTRIAL LTD.
6014 HILDER CENTER
0 XXXX XXXX XX.
XXXXXXX, XXXXXXX, XXXX XXXX
XXXXXX XXX, PRESIDENT
