July 8, 2004

FOR: ZOLL Medical Corporation

INVESTOR CONTACT: A. Ernest Whiton
Chief Financial Officer
ZOLL Medical Corporation
(978) 421-9655
PRESS CONTACT: Robert Minicucci
Corporate Communications Manager
ZOLL Medical Corporation
+1 (978) 421-9832
rminicucci@zoll.com



FOR IMMEDIATE RELEASE

ZOLL MEDICAL AND MEDWAVE SIGN OEM SUPPLIER AGREEMENT FOR NON-INVASIVE BLOOD PRESSURE TECHNOLOGY

Thursday, July 08, 2004 – DANVERS, MASS. AND CHELMSFORD, MASS.—Medwave, Inc. (NASDAQ: MDWV), an innovator in sensor-based, non-invasive blood pressure measuring solutions, and ZOLL Medical Corporation (NASDAQ: ZOLL), a manufacturer of non-invasive resuscitation devices and software solutions, announced today that the two companies have signed an OEM supplier agreement, under which ZOLL will purchase Medwave’s non-invasive blood pressure technology for incorporation into its cardiac resuscitation products.

According to Richard A. Packer, President and Chief Executive Officer of ZOLL, “Blood pressure is a fundamental clinical assessment parameter in both acute and emergency care. Through clinical studies, Medwave has shown its technology can provide reliable and accurate readings that are comparable to measurements obtained with invasive arterial catheters. The integration of this technology into ZOLL’s products will offer advantages for both caregivers and patients.”

Blood pressure (BP) is the force of blood against the walls of arteries and is recorded as two numbers: the systolic pressure (as the heart beats) and the diastolic pressure (as the heart relaxes between beats). While BP is measured everywhere within the healthcare spectrum, in emergency and prehospital settings, it can be challenging to obtain a manual BP reading.

Medwave introduced its technology to the Emergency Medical Services (EMS) market and hospital trauma centers approximately two years ago. Since then, clinical validation studies have concluded that Medwave’s technology performs more effectively than conventional blood pressure cuffs in similar environments.

Tim O’Malley, President and CEO of Medwave stated, “It makes sense that ZOLL and Medwave should work together given that both companies are innovators in resuscitation and BP monitoring, respectively. We believe customers will benefit from the integration of our BP monitoring solutions into ZOLL’s advanced line of products. Our technology overcomes the significant challenges caregivers face while attempting to monitor patients with conventional BP devices. We believe this integration will help improve patient monitoring and management in prehosptial, transport, and hospital settings.”

About ZOLL Medical Corporation
ZOLL Medical Corporation (NASDAQ: ZOLL) designs, manufactures, markets, and/or sells non-invasive resuscitation devices and software solutions. They include pacing and defibrillation devices (ZOLL’s M Series™ and AED Plus™, and LIFECOR, Inc.’s LifeVest™ Wearable Defibrillator); circulatory assist devices (Advanced Circulatory Systems, Inc.’s ResQPOD™ Circulatory Enhancer and Revivant Corporation’s AutoPulse™); and a fluid resuscitation product called the Power Infuser®, manufactured by Infusion Dynamics, a division of ZOLL. These devices help healthcare professionals, emergency medical service providers, and first responders diagnose and treat victims of trauma, as well as sudden cardiac arrest.

Additionally, through its subsidiary ZOLL Data Systems, ZOLL designs and markets software that automates the collection and management of both clinical and non-clinical data. With direct operations, international offices, and business partners in all of the world’s major markets, ZOLL markets and sells its products in more than 140 countries. For more information, visit www.zoll.com or call +1 (978) 421-9655.

About Medwave, Inc.
Medwave, Inc. develops, manufactures, and distributes sensor based non-invasive blood pressure products. Its Vasotrax® Hand Held Monitor, the Vasotrac® APM205A NIBP Monitor, the Vasotrac DS Monitor, and the MJ23 OEM Module are new approaches to non-invasive blood pressure monitoring. Medwave has received the necessary regulatory clearances to market its technology in Europe, Asia, and the United States. Medwave is ISO13485/ISO9001/MDD93/42/EEC certified, and all of its products are CE marked. Medwave previously received the Seal of Acceptance from the Alliance of Children's Hospitals, as well as the Frost and Sullivan Market Engineering Award for Technology Innovation. Medwave's technology is installed in over 500 hospitals and clinics worldwide. The company trades on the NASDAQ small cap market under the symbol MDWV.

Certain statements contained in this press release, including statements regarding the anticipated development of ZOLL’s business, ZOLL’s ability to differentiate its products from others on the market, and other statements contained herein regarding matters that are not historical facts, are "forward-looking" statements (as defined in the Private Securities Litigation Reform Act of 1995). Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, those factors discussed in the section entitled "Risk Factors" in ZOLL’s Quarterly Report on Form 10-Q filed with the SEC on May 19, 2004.

In addition, the following factors, among others, as well as factors discussed in Medwave’s filings with the SEC, have affected and, in the future, could affect Medwave’s actual results: resistance to the acceptance of new medical products, the market acceptance of the Vasotrac® system and other products of Medwave, hospital budgeting cycles, the possibility of adverse or negative results or commentary from clinical researchers or other users or evaluators of Medwave’s products, Medwave’s success in creating effective distribution channels for its products, Medwave’s ability to scale up its manufacturing process, and delays in product development or enhancement or regulatory approval. Consequently, no forward-looking statement can be guaranteed and actual results may vary materially.

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