Cardo Medical, Inc.(OTCBB:CDOM) Declares That Closing of $6.2 Million Private Placement

Cardo Medical, Inc. (OTC Bulletin Board: CDOM), an orthopedic medical device company based in Beverly Hills, California, announced today that it has completed the previously disclosed private placement transaction in which it successfully raised approximately $6.2 million in gross proceeds through the sale of common stock.  Cardo Medical will use the proceeds Will fund working capital of the Cardo Medical.

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Cardo Medical, Inc. intends to use the proceeds for working capital, general corporate purposes and research and development, including the integration of its recent acquisitions and the release of its total knee system.  Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE Amex: LTS), acted as the exclusive placement agent for this transaction. Cardo Medical (OTCBB:CDOM) develops reconstructive orthopedic and spinal surgery products through advanced engineering and focuses on product development, marketing and distribution within the US market. Cardo Medical's superior engineering talent closely collaborates with leading surgeons around the country to create products that reduce or eliminate joint pain and allow patients to achieve more active lives. Cardo Medical's product portfolio includes devices for knee, hip, spinal fusion and motion preservation arthroplasty and replacement, many of which have already received FDA clearance. Cardo Medical has a robust and innovative product pipeline pending both USPTO and FDA submission and clearance. Cardo Medical works in small, focused development teams in concert with physicians to rapidly develop products from concept to launch. We are committed to exceeding the standards by which any device company is judged. Please visit the website at www.cardomedical.com for more information on our complete portfolio of Reconstructive and Spinal Implant systems.

Cardio Medical Products, Inc. was started in 1979 as a Cardio-Vascular distributor in the Metropolitan New York and New Jersey areas. Over time, Cardio Medical Products expanded its territory and product representation to thirteen (13) Northeastern states and provides products for many surgical specialties with special emphasis on cardiac, vascular, neuro, plastic, general, urological, anesthesiology, oncology, and laparoscopic surgery. Cardio Medical Products also offers instrumentation and products for the Nephrology and Dialysis market. Our sales people work directly with all areas of the hospital to facilitate the sale.