SANUWAVE Health, Inc. Lippert/Heilshorn Associates Barry Jenkins, CFO Anne Marie Fields Bernie Laurel, VP of Sales and Marketing 212-838-3777 678-578-0103 afields@lhai.com investorrelations@sanuwave.com FOR IMMEDIATE REL

SANUWAVE HEALTH REPORTS 2010 FINANCIAL RESULTS

ALPHARETTA, GA, March 28, 2011 SANUWAVE Health, Inc. (OTC/BB: SNWV) (www.sanuwave.com), an

emerging medical technology company focused on the development and commercialization of

non-invasive, biological response activating devices in regenerative medicine, today reported

financial results for the year ended December 31, 2010, and reviewed 2010 s accomplishments and

Christopher M. Cashman, President and CEO of SANUWAVE, said, Throughout 2010, we made significant

progress toward our goal of becoming a leading regenerative medicine company serving the wound

care, orthopedics and plastic surgery markets. Most importantly, we completed our

dermaPACE pivotal Phase III clinical trial to treat diabetic foot ulcers (DFU) and

reported compelling top-line safety and efficacy results during the fourth quarter. We also

submitted the first of three modules of our Premarket Approval (PMA) application to the U.S. Food

and Drug Administration (FDA), which included preclinical data and the results of prior clinical

testing. By completing this rigorous Phase III clinical trial and immediately initiating our

modular PMA submission process, we have surpassed a key milestone for transforming SANUWAVE from a

development-stage entity into a commercial company.

As demonstrated by the robust results from our DFU clinical trial, dermaPACE has the potential to

help a large number of patients who suffer through the physical and emotional distress of these

debilitating foot ulcers, Mr. Cashman added. Pending FDA approval, we look forward to bringing

dermaPACE to medical professionals and patients alike, as we aim to make a significant impact on

wound healing and quality of life, while reducing the total cost of patient care.

Business highlights from 2010 include the following:

Mr. Cashman added, We continue to build strong relationships in the research and medical

communities across several key market verticals. As a result, awareness is growing of the potential

of PACE technology to improve chronic and acute conditions of bone and soft tissue. We believe

that we will offer medical professionals and their patients a novel solution to many common,

challenging medical conditions with both clinical and economic benefit. Our recently completed

Phase III DFU clinical trial represents a major step towards delivering on this promise.

Research published in 2010 on SANUWAVE s technology includes the following:

The growing body of preclinical and clinical work demonstrates that SANUWAVE s technology

activates a complex cascade of biological processes that improves microcirculation. We know that

PACE induces vasculogenesis and angiogenesis, ultimately leading to complete healing of acute and

chronic conditions of bone and soft tissue. We believe that these biological effects make PACE

clinically relevant and ideally suited for widespread clinical application, said Mr. Cashman.

At SANUWAVE, we are making a difference in people s lives. PACE is a versatile platform with

potential clinical and economic benefits across a wide range of conditions. The degenerative

conditions and tissue regenerative markets we are addressing have large, well-documented needs that

can benefit from the ability of PACE to stimulate neovascularization, healing, and long-term tissue

stability and durability in a cost-effective, clinically efficient manner, he concluded.

2010 Financial Results

Revenues for 2010 were $728,000, compared with $661,000 for 2009. Revenues are primarily from sales

of devices and applicators in Europe of the Company s new orthoPACE device for orthopedic

conditions launched in June 2010 and from its legacy Evotron device.

Research and development expenses for 2010 were $3.9 million, compared with $3.4 million for 2009.

The increase is due to higher costs of the dermaPACE clinical trial for treating diabetic foot

ulcers in the United States. Patient follow-up was completed in 2010, and statisticians and

consultants were engaged to assist in the data review and preparation of regulatory submissions.

General and administrative expenses for 2010 were $7.1 million, compared with $5.0 million for

2009. The increase is primarily due to non-cash stock based compensation expense of $3.0 million

for 2010, compared with $1.1 million for 2009, due to a shorter requisite period on the new grants

of options to employees and directors of the Company in 2010 as compared to 2009.

The net loss for 2010 was $14.9 million, or $1.15 per share, compared with a net loss of $6.2

million, or $0.54 per share, for 2009. The net loss for 2010 includes the $2.7 million non-cash

loss from extinguishment of debt related to the exchange of promissory notes for equity in October

2010. The net loss for 2009 was reduced by the $1.5 million gain, net of taxes, on the sale of the

veterinary product line in June 2009.

As of December 31, 2010, the Company had cash and cash equivalents of $417,000, compared with $1.8

million as of December 31, 2009. Net cash used by operations for 2010 was $5.9 million, compared

with $5.5 million for 2009. The increase was primarily due to higher expenses related to the

dermaPACE clinical trial.

During 2010 the Company raised $4.3 million from the issuance of promissory notes, which were

subsequently exchanged into common stock units, and from the sale of common stock units to

accredited investors. Each common stock unit consisted of a share of common stock, a Class D

warrant and an option, which as amended expired on January 31, 2011, to purchase the same number of

units at the same purchase price per unit. In December 2010, the option holders mentioned above

exercised options for net proceeds to the Company of $202,000. Subsequent to fiscal year end, in

January 2011 the option holders mentioned above exercised options for net proceeds to the Company

PACE, defined as Pulsed Acoustic Cellular Expression, delivers high-energy acoustic pressure waves

to produce compressive and tensile stresses on cells and tissue structures to promote angiogenic

and positive inflammatory responses, and quickly initiate the healing cascade. This results in

revascularization and microcirculatory improvement, including the production of angiogenic growth

factors, enhanced new blood vessel formation (angiogenesis), and the subsequent regeneration of

tissue such as skin, musculoskeletal and vascular structures. PACE treatment triggers the

initiation of an accelerated inflammatory response that speeds wounds into proliferation phases of

healing and subsequently returns a chronic condition to an acute condition to help re-initiate the

body s own healing response.

About SANUWAVE Health, Inc.

SANUWAVE Health, Inc. (www.sanuwave.com) is an emerging regenerative medicine company focused on

the development and commercialization of non-invasive, biological response-activating devices for

the repair and regeneration of tissue, musculoskeletal and vascular structures. SANUWAVE s

portfolio of products and product candidates activate biologic signaling and angiogenic responses,

including new vascularization and microcirculatory

improvement, helping to restore the body s normal healing processes and regeneration. SANUWAVE

intends to apply its PACE technology in wound healing, orthopedic/spine, plastic/cosmetic and

cardiac conditions. Its lead product candidate for the global wound care market, dermaPACE, is CE

marked for treatment of the skin and subcutaneous soft tissue and recently completed its highly

positive pivotal Phase III, Investigational Device Exemption (IDE) trial in the U.S. for the

treatment of diabetic foot ulcers. SANUWAVE researches, designs, manufactures, markets and services

its products worldwide, and believes it has demonstrated that this technology is safe and effective

in stimulating healing in chronic conditions of the foot (plantar fasciitis) and the elbow (lateral

epicondylitis) through its U.S. Class III PMA approved Ossatron device, as well as stimulating bone

and chronic tendonitis regeneration in the musculoskeletal environment through the utilization of

its Ossatron, Evotron and orthoPACE devices in Europe.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the Private

Securities Litigation Reform Act of 1995, such as statements relating to financial results and

plans for future business development activities, and are thus prospective. Forward-looking

statements include all statements that are not statements of historical fact regarding intent,

belief or current expectations of the Company, its directors or its officers. Investors are

cautioned that any such forward-looking statements are not guarantees of future performance and