Ryan & Maniskas, LLP is investigating potential claims against the board of directors of Health Grades, Inc.concerning possible breaches of fiduciary duty and other violations of law related to the Company's entry into an agreement to be acquired by Vestar Capital Partners V, L.P. in a transaction valued at approximately $294 million.

Our investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the transaction by Company's board of directors; in particular, whether the Company undertook a fair process to obtain fair consideration for all shareholders of Health Grades. For more information regarding our investigation, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at rmaniskas@rmclasslaw.com or visit: www.rmclasslaw.com/cases/hgrd.

Under the proposed agreement, Health Grades shareholders will receive $8.20 in cash for each Health Grades share of common stock they own.

If you own shares of Health Grades and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign up online, visit: www.rmclasslaw.com/cases/hgrd. You may also email Mr. Maniskas at rmaniskas@rmclasslaw.com. For more information about class action cases in general, please visit our website: www.rmclasslaw.com.