Health Grades, Inc. To Present at Capstone Investments’ Small-Cap Investor Conference

Health Grades, Inc. (Nasdaq: HGRD), the leading healthcare ratings company, today announced that Allen Dodge, Executive Vice President and Chief Financial Officer of HealthGrades, will be presenting at Capstone Investments’ First Annual Small-Cap Investor Conference at the Milwaukee Athletic Club in Milwaukee, WI, on Tuesday, July 17, 2007 at 1:30 p.m. Eastern Time.

In addition, the Company will file with the Securities and Exchange Commission its investor presentation on Form 8-K. A copy of the Form 8-K will also be posted on the Company’s web site at www.healthgrades.com.

About HealthGrades

Health Grades, Inc. (Nasdaq: HGRD) is the leading healthcare ratings organization, providing ratings and profiles of hospitals, nursing homes and physicians. Millions of consumers and many of the nation’s largest employers, health plans and hospitals rely on HealthGrades’ independent ratings, advisory services and decision-support resources to make healthcare decisions based on the quality and cost of care. More information on the company can be found at http://www.healthgrades.com.