Message-ID: <11773393.1075840130489.JavaMail.evans@thyme> Date: Thu, 16 Nov 2000 07:39:00 -0800 (PST) From: waltm@wheatstoneinvestments.com To: jeff.skilling@enron.com Subject: Mischer-InterFit Health Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: waltm X-To: "'jeff.skilling@enron.com'" X-cc: X-bcc: X-Folder: \Jeffrey_Skilling_June2001\Notes Folders\Discussion threads X-Origin: SKILLING-J X-FileName: jskillin.nsf Dear Jeff, I have attached for your review the following documents related to InterFit Health.com: 1. InterFit Health Business Plan Summary. 2. Investor list from our recent offering. 3. Investor letter concerning Sept. and Oct activities. The current shareholders are composed of Founders 61%, Mischer Healthcare Services 17%, Round I investors 21%. I personally purchased 14% of Round I. The investors purchased a convertible preferred and the company may not incur debt without consent of the preferred holders so it is in effect a first lien. The company is initially focused on health screening through blood testing but I anticipate adding other product lines such as radiology next. The vision is to become a corporate and consumer full service diagnostic site with medical records storage along with referral capability to healthcare providers in major urban markets. There are several characteristics that interested me in InterFit: 1. Empowering consumers and corporations to take controol of healthcare management. 2. The confluence of aging baby boomer demographics and their requirements of diagnostic testing. 3. Application of technology to enable the company's clients to access lower pricing at their convenience vs the physicians schedule. 4. The rapid growth rate of gene based testing. Quest Diagnostics performs six million gene based test annually with a current growth rate of 50% per year. 5. To date there are no direct competitors taking the integrated approach to diagnostic services. If you have a interest in investing we would be pleased to have you as a shareholder. The average investment per holder in round I was $75,000. We will have a second round closing in June 01. Enron has used InterFit to provide health screening several times between 1995 and 1999. As we discussed my view is that corporatioons have always approached screening as a employee benefit but never were given a integrated solution. My approach is to provide the employee/dependants diagnostic services, a referral solution for out of range results and storage of historical medical records. The corporation will receive a generic data base mapping the health of their employees which can be used to predict disease and truly risk measure the population. Obviously this will be very useful in negotiating managed care provider contracts on your actual data versus getting dumped into their huge data base. InterFit will be able to address the North American market at launch in January 2001. The answer to your question regarding England/Europe and South America is that we need to set up laboratory networks and provider networks but it can be done. In closing, I believe Enron would benefit significantly from participating in our program but it will require senior management committment to a long term program to reap the benefit of healthcare cost containment. Thank you for your interest and I will look forward to hearing your thoughts. Sincerely, Walt <> <> <> - InterfitStratFinPres10-00.ppt - investor list.xls - example letter to investors.doc