On that you are wrong, He needs an sport license to fly an that plane as an ultralight. He will not need to get a physical but he is required to get the sport license.
If it is a true ultralight (and meets the following requirements of FAR part 103 as follows)
* Weighs less than 254 pounds empty weight, excluding floats and safety devices which are intended for deployment in a potentially catastrophic situation;
* Has a fuel capacity not exceeding 5 U.S. gallons;
* Is not capable of more than 55 knots (63 mph) calibrated airspeed at full power in level flight; and
* Has a power-off stall speed which does not exceed 24 knots (28 mph) calibrated airspeed.
...then there is no license needed. Never has been for an ultralight. The LSA classification, however is the newest category in the FAA rules.
However, I doubt that this particular a/c complies with any of that.
