Dr. Jay Yadav, CardioMEMS Founder & CEO, Named Ernst & Young Entrepreneur of the Year®

ATLANTA, June 27, 2011 /PRNewswire/ -- CardioMEMS, Inc., an Atlanta-based medical device company that has developed and is commercializing a proprietary wireless sensing and communication technology for the human body, today announced that its founder and CEO, Jay Yadav, M.D., has been honored with a Ernst & Young Entrepreneur of The Year® award in the health sciences category for the Alabama/Georgia/Tennessee region.  According to Ernst & Young LLP, the award recognizes entrepreneurs whose ingenuity, hard work, and innovation have created successful and growing businesses in the region. Dr. Yadav received his award during a black-tie gala held last Thursday night at The InterContinental Hotel.

"I am honored to receive the Ernst and Young Entrepreneur of the Year Award in the health sciences category," said Dr. Yadav. "To be considered among the top entrepreneurial successes in our region is rewarding and, more importantly, a testament to CardioMEMS and its team that has worked diligently over the past ten years to bring our Company's unique technology to market."

Dr. Yadav, an interventional cardiologist, founded CardioMEMS in 2000 to develop new devices for the treatment of chronic diseases, such as heart failure, using minimally invasive techniques. Dr. Yadav's most recent success is development of the Champion™ Heart Failure Monitoring System, the first, wireless, permanently implantable device that allows cardiologists to monitor heart failure patients from their homes. The device's successful clinical trial demonstrated a 38% reduction in heart failure-related hospitalizations which could potentially save the U.S. health care system over $8 billion annually.

"The Ernst & Young Entrepreneur of the Year Award is recognized throughout the business community as the most prestigious business award for entrepreneurs, and could not have gone to a more deserving individual," said John Huntz, Executive Director of Arcapita Ventures.  "Dr. Yadav is dedicated to improving the lives of patients through advancement and innovation and his entrepreneurial spirit and commitment to excellence is evident throughout CardioMEMS."  

As a regional award winner, Dr. Yadav is now eligible for consideration for the 25th annual Ernst & Young Entrepreneur of the Year National Award.  National award winners will be announced at the Ernst & Young Strategic Growth Forum® in Palm Springs, California on November 12, 2011.  More information is located at www.ey.com.

About CardioMEMS, Inc.

CardioMEMS is a medical device company that has developed and is commercializing proprietary wireless sensing and communication technology for the human body. The company's technology platform is designed to improve the management of severe chronic cardiovascular diseases such as aneurysms, heart failure, and hypertension. CardioMEMS miniature wireless sensors can be implanted using minimally invasive techniques and transmit cardiac output, blood pressure and heart rate data, which are critical to the management of patients. The sensors are designed to be permanently implanted into the heart and blood vessels due to their small size, durability and lack of wires and batteries. Using radiofrequency energy, the sensors transmit real-time data to external electronic readers, which then communicate this information to the patient's physician. CardioMEMS developed this technology based on the belief that frequent, on-demand, real-time monitoring of vital information enables proactive patient management, which holds the promise of reducing hospitalizations, improving a patient's quality of life and delivering more efficient and cost effective health care. More information about CardioMEMS is located at www.cardiomems.com.

Statements made in this press release that look forward in time or that express beliefs, expectations or hopes regarding future occurrences or anticipated outcomes are forward-looking statements. A number of risks and uncertainties such as risks associated with product development and commercialization efforts, expected timing or results of any clinical trials, ultimate clinical outcome and perceived or actual advantages of the Company's products, market and physician acceptance of the products, intellectual property protection, and competitive offerings could cause actual events to adversely differ from the expectations indicated in these forward looking statements.

CardioMEMS and the CardioMEMS logo are registered trademarks of CardioMEMS, Inc. Champion is a trademark of CardioMEMS, Inc.

Caution: The Champion Heart Failure Monitoring System is an investigational device limited by federal law to investigational use.

Ernst & Young Entrepreneur of the Year and Ernst & Young Strategic Growth Forum are registered trademarks of Ernst & Young, LLP.

SOURCE CardioMEMS, Inc.