ProVation Medical, Inc. Completes $4 Million Credit Facility with Silicon Valley Bank

MINNEAPOLIS, MN, July 7, 2004 – ProVation® Medical, Inc., developer of clinical procedure documentation and coding compliance software, announced today that it closed a $4 Million credit facility with Silicon Valley Bank (SVB), the primary banking subsidiary of Silicon Valley Bancshares (Nasdaq: SIVB). The agreement marks a new business relationship between the bank and the Minneapolis-based software company.

"We are pleased to be working with Silicon Valley Bank, a leading provider of banking services in the technology industry,” said Mark Wagner, President and CEO, ProVation Medical. “This credit facility will further strengthen ProVation Medical's financial foundation, helping our company achieve continued rapid growth while still providing exceptional client services and support.”

“Emerging and established technology and life science companies like ProVation Medical need the right financial services to help them grow and stay focused on their core business,” said Jay McNeil , senior vice president, Silicon Valley Bank. “We are pleased to provide these services and begin this new relationship with ProVation.”

About ProVation Medical, Inc.
ProVation Medical, Inc. (Minneapolis, MN), a leading healthcare software and services company, provides solutions that significantly enhance revenue and decrease costs per medical procedure. Hospitals and Ambulatory Surgery Centers that use ProVation Medical software (1) improve their coding accuracy resulting in a 5-25 percent improvement in reimbursement for their medical procedures, (2) eliminate transcription costs, and (3) consolidate and simplify all the major financial, clinical and administrative tasks that accompany each procedure. ProVation MD/RN software replaces inefficient dictation/transcription processes, producing complete, billing-ready, image- and diagram-enhanced documentation for multi-specialty clinical procedures. Through an innovative "Anticipatory Interface®", the software links deep medical content designed by ProVation's in-house 12-member physician and coding staff to compliant CPT/ICD/CCI-edit reimbursement codes, producing a comprehensive operative note. The result is coder-ready documentation delivering compliance, proper reimbursement, and shortened days in Accounts Receivable with an ROI ranging from 25-200% and payback within 12-20 months.

About Silicon Valley Bank
Silicon Valley Bank provides diversified financial services to emerging growth and mature companies in the technology, life sciences and private equity markets, as well as the premium wine industry. Through its focus on specialized markets and extensive knowledge of the people and business issues driving them, Silicon Valley Bank provides a level of service and partnership that measurably impacts its clients' success. Founded in 1983 and headquartered in Santa Clara, CA, the company serves more than 9,500 clients across the country through 26 regional offices. More information on the company can be found at www.svb.com.

For more information contact:
Laura Gilbert
ProVation® Medical, Inc.
612.313.1506
laura.gilbert@provationmedical.com