Since you would do the training in a sim, you do not need the medical. You only need the medical when you are going to fly an airplane. Everything else is correct. There is one additional thing, in order to take the FAA knowledge test for the ATP you have to complete an ATP Certificate Training Program. As of now the FAA has not approved a stand alone ATP CTP. Higher Power says they are working to get a program approved but they do not have a date they expect FAA approval.