DANVERS, Mass., Oct. 4 /PRNewswire-FirstCall/ -- Medwave, Inc. . On September 29, 2006, Medwave, Inc., a Delaware corporation ("Medwave"), was notified by The NASDAQ Stock Market, Inc. that as a result of Frank Katarow stepping down from Medwave's audit committee in connection with his appointment as interim Chief Executive Officer, Medwave's audit committee is comprised of two members of the board of directors and therefore is no longer in compliance with Marketplace Rule 4350(d)(2)(A). Medwave is relying on the cure period set forth in Marketplace Rule 4350(d)(4) that provides that if an issuer fails to comply with the audit committee composition requirements due to one vacancy, the issuer shall regain compliance with the requirements by the later of its next annual stockholders meeting or 180 days from the occurrence of the event that caused the failure to comply with the requirements. During this cure period, Medwave intends to appoint one additional independent director to the board of directors who will serve on the audit committee.
About Medwave
Medwave, Inc. develops, manufactures and distributes sensor-based non-invasive blood pressure solutions. Medwave's suite of products is designed for use in hospitals, clinics, doctor's offices and almost anywhere blood pressure monitoring occurs. Medwave has the required technology clearances to market its technology in the United States, Europe and Asia. Medwave's technology is installed in more than 500 hospitals and clinics worldwide. Medwave trades on the NASDAQ small cap market under the symbol MDWV. For more information, visit http://www.medwave.com .
Medwave, Inc.CONTACT: Investor Relations, Jodie Chastain of Medwave, Inc.,+1-800-894-7601
Web site: http://www.medwave.com/
