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Amy Rickard
Cleveland Medical Devices Inc.
Phone: 216.791.6720
arickard@clevemed.com
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FOR IMMEDIATE RELEASE


CLEVEMED'S CRAIG FREDERICK WINS NATIONAL STEVIE® AWARD IN ANNUAL AMERICAN BUSINESS AWARDSSM


NEW YORK CITY, NEW YORK, June 12, 2007 - Craig Frederick of CleveMed won a Stevie Award for Best Product Developer in The 2007 American Business Awards last night.

Hailed as "the business world's own Oscars" (New York Post, April 27, 2005), The American Business Awards are the only national, all-encompassing awards program honoring great performances in business.

Nicknamed the Stevies for the Greek word "crowned," the awards were presented during ceremonies at the Marriott Marquis Hotel in New York City. The ceremonies were hosted by Larry Wilmore of THE DAILY SHOW with JON STEWART, videocast live on the Internet, and broadcast nationwide on the radio.

More than 2,000 entries from companies of all sizes and in virtually every industry were submitted for consideration in more than 40 categories, including Best Overall Company, Best Executive, Best New Product or Service, and Best Corporate Social Responsibility Program. Frederick competed in the Best Product Developer category.

Over the years, there has been a long-standing debate regarding appropriate settings for the testing of sleep disorders. Unlike most in the sleep disorders diagnosis industry, Frederick realized that it should be possible to test patients in their own homes instead of being limited to a sleep lab. As such, he spearheaded the development of a data "gateway" that can efficiently transmit PSG data between the patient's home and a remote monitoring site, thus offering first-of-a-kind supervised home sleep assessment. This system allows patients to be tested not only in their homes, but also in other nontraditional settings such as nursing homes, while still having the reliability of attended in-lab testing. The "gateway" transmits data over a mobile cell phone internet connection using optimized and special communication schemes developed by Frederick and his team. Data and video are monitored in real-time by a sleep technologist that can be located almost anywhere in the world.

Members of the Awards' Board of Distinguished Judges & Advisors and their staffs selected Stevie winners from among the Finalists. Finalists were chosen by business professionals nationwide during preliminary judging in April and May.

"We are very proud of this nationally-recognized award. It speaks volumes about Craig's efforts and highlights CleveMed's continued excellence in medical device innovation. In addition to thanking our employees, we would like to express our gratitude to the National Institutes of Health whose funding was crucial for the development of this technology," said Hani Kayyali, CleveMed president.

Details about The American Business Awards and the list of Finalists in all categories are available at www.stevieawards.com/aba

About CleveMed

CleveMed was founded with the goal of developing innovative telemetry devices for a variety of medical applications. Today, CleveMed is developing and pioneering the use of novel wireless monitoring systems for high growth neurology and rehabilitation applications, including movement disorders, sleep disorders and brain monitoring. Through these innovations, CleveMed has developed a growing range of products that address the needs of the medical, research and academic communities. For more information, please visit www.CleveMed.com

About the Stevie Awards

Stevie Awards are conferred in four programs: The American Business Awards, The International Business Awards, The Stevie Awards for Women in Business, and the Selling Power Sales Excellence Awards. Honoring companies of all types and sizes and the people behind them, the Stevies recognize outstanding performances in business worldwide. Learn more about The Stevie Awards at www.stevieawards.com.
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