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CleveMed News Releases

For More Information Contact:

Amy Rickard
Cleveland Medical Devices Inc.
Phone: 216.791.6720
arickard@clevemed.com
www.CleveMed.com


FOR IMMEDIATE RELEASE


CLEVEMED RECEIVES LEADING EDGE AWARD FOR RECOGNITION AS A TOP 101 MIDDLE-MARKET COMPANY IN NORTHEAST OHIO


CLEVELAND, OHIO, May 24, 2007 - Cleveland Medical Devices Inc. (CleveMed) announced today that it recently received a Leading Edge Award from Entrepreneurs EDGE, which recognizes the top 101 middle-market companies in Northeast Ohio that creates great value for themselves and for their community. CleveMed was recognized for the accomplishment at an awards dinner held at the University of Akron.

To qualify for the Leading Edge Award, the companies had to have sales revenues up to $500 million and currently sell goods and services outside of Northeast Ohio. Factors that were also taken into consideration were: the company´s self-reported EBIT and total taxable compensation for all employees residing in Northeast Ohio; how much was spent with local vendors; and how much time and money was given back to the community.

Entrepreneurs Edge promotes the Leading Edge Awards because they believe the identified companies should be honored for their enhanced economic development in Northeast Ohio through innovation and entrepreneurship. In "101 mid-market companies." D. Kirk Neiswander stated that these middle-market companies are pumping more than $1.3 billion into the Northeast Ohio economy, which may already have a bigger effect on our economy than our region's Fortune 500 companies.

"CleveMed is proud to be part of the Entrepreneurs Edge. Our efforts obtaining international distributors and our growing sales around the nation are helping to bring more money into the Cleveland economy," states Bob Schmidt, CEO of CleveMed.

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
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