<Page>

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q


(Mark One)

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
    ACT OF 1934

    For the Quarterly Period Ended July 31, 2001; or

[] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
   ACT OF 1934

     For the transition period from ____________ to _____________


Commission File Number:    0-28010


                                  MEDWAVE, INC.
             (Exact name of registrant as specified in its charter)
          Minnesota                                              41-1493458
(State or other jurisdiction of                                (IRS employer
incorporation or organization)                            identification number)

                            4382 Round Lake Road West
                          Arden Hills, Minnesota 55112
                    (Address of principal executive offices,
                                    zip code)

                                 (651) 639-1227
                    (Registrant's telephone number, including
                                   area code)



Indicate by mark whether the issuer (1) has filed all reports required to be
filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the
preceding 12 months (or for such shorter period as the registrant was required
to file such reports) and (2) has been subject to such filing requirements for
the past 90 days.
Yes [X]   No [ ]

As of August 31, 2001, the issuer had 6,921,586 shares of Common Stock
outstanding.


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                                  Medwave, Inc.

                                    Form 10-Q

                                      INDEX

                                                                            Page
                                                                            ----

PART I.  FINANCIAL INFORMATION

 Item 1.     Financial Statements

             Balance Sheets - April 30, 2001 and July 31, 2001                 2

             Statements of Operations - Three Months Ended July 31, 2001       3
                and 2000 and Period from June 27, 1984 (Inception) to
                July 31, 2001

             Statements of Cash Flows - Three Months Ended July 31, 2001       4
                and 2000 and Period from June 27, 1984 (Inception) to
                July 31, 2001


             Notes to Financial Statements                                     5


 Item 2.     Management's Discussion and Analysis of Financial Condition       5
                and Results of Operations

 Item 3.     Quantitative and Qualitative Disclosures About Market Risk        9

PART II. OTHER INFORMATION

 Item 1.     Legal Proceedings                                                 9

 Item 2.     Changes in Securities                                             9

 Item 3.     Defaults Upon Senior Securities                                   9

 Item 4.     Submission of Matters To A Vote of Security Holders               9

 Item 5.     Other Information                                                 9

 Item 6.     Exhibits and Reports on Form 8-K                                 10


<Page>


                         PART I - FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS

                                  MEDWAVE, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                                 BALANCE SHEETS

<Table>
<Caption>

                                                                  APRIL 30,             JULY 31,
                                                                    2001                  2001
                                                              -------------------------------------
                                                              (see note 2)        (unaudited)
<S>                                                           <C>                 <C>
Assets
Current Assets:
      Cash and cash equivalents                                   $1,116,589            $4,795,150
      Accounts receivable                                            208,009               184,126
      Inventories                                                    467,632               467,782
      Prepaid expenses                                               193,609               114,609
                                                              -------------------------------------
Total current assets                                               1,985,839             5,561,667



Property and equipment:
      Research and development equipment                             218,292               208,527
      Office Equipment                                               113,086               113,086
      Manufacturing and engineering equipment                        285,504               281,978
      Sales and marketing equipment                                   54,269                54,269
      Leasehold improvements                                          31,613                31,613
                                                              -------------------------------------
                                                                     702,764               689,473
      Accumulated depreciation                                      (557,813)             (572,312)
                                                              -------------------------------------
                                                                     144,951               117,161


                                                              -------------------------------------
Total Assets                                                      $2,130,790            $5,678,828
                                                              =====================================

LIABILITIES AND SHAREHOLDERS' EQUITY
      Current liabilities:
      Accounts payable                                             $ 278,887             $ 126,915
      Accrued payroll                                                 45,666                46,507
      Deferred Revenue                                               199,690               197,775
                                                              -------------------------------------
Total current liabilities                                            524,243               371,197

Shareholders' equity:
      Common Stock, no par value:
                 Authorized shares--50,000,000
                 Issued and outstanding shares -                  17,385,956            21,752,104
                   April 30, 2001 - 5,734,049
                   July 31, 2001  - 6,921,586
      Deficit accumulated during the development stage           (15,779,409)          (16,444,473)
                                                              -------------------------------------
Total shareholders' equity                                         1,606,547             5,307,631
                                                              -------------------------------------

Total liabilities and shareholders' equity                        $2,130,790            $5,678,828
                                                              =====================================
</Table>

THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS.


<Page>

                                  Medwave, Inc.
                          (A Development Stage Company)

                            Statements of Operations
                                   (UNAUDITED)
<Table>
<Caption>

                                                                                                  Period from
                                                                                                 June 27, 1984
                                                         Three months ended July 31               (Inception)
                                                  --------------------------------------               to
                                                            2001                   2000          July 31, 2001
                                                  --------------------------------------       ------------------
<S>                                                   <C>                    <C>                    <C>
Revenue:
      Net Sales                                       $  172,891             $   84,480             $  2,389,740

Operating expenses:
      Cost of sales and product development              157,895                126,458                2,568,009
      Research and development                           133,917                260,003                9,249,798
      Sales and marketing                                412,181                244,604                4,987,913
      General and administrative                         171,773                172,684                4,678,448
                                                  --------------------------------------       ------------------
Operating loss                                          (702,875)              (719,269)             (19,094,428)

Other income:
      Interest income                                     37,811                 50,205                1,776,715
      Other income                                          -                      -                   1,500,000
                                                  --------------------------------------       ------------------
Net loss                                              $ (665,064)            $ (669,064)            $(15,817,713)
                                                  ======================================       ==================

Net loss per share - Basic and diluted                $    (0.10)            $    (0.12)            $      (5.28)
                                                  ======================================       ==================
Weighted average number of common and
      common equivalent shares outstanding             6,360,851              5,499,596                2,993,974
                                                  ======================================       ==================

</Table>

THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS.


<Page>


                                  Medwave, Inc.
                          (A Development Stage Company)
                            Statements of Cash Flows
                                   (UNAUDITED)


<Table>
<Caption>
                                                                                                                Period from
                                                                                                               June 27, 1984
                                                                                 Three months ended July 31     (Inception)
                                                                                ---------------------------          to
                                                                                      2001            2000     July 31, 2001
                                                                                ---------------------------    -------------
<S>                                                                             <C>             <C>            <C>
OPERATING ACTIVITIES
Net loss                                                                        $ (665,064)     $ (669,064)    $(15,817,713)
Adjustments to reconcile net loss to net cash used in operating activities:
      Depreciation                                                                  30,987          17,303          819,160
      Amortization                                                                    ---            2,657          136,017
      Loss on sale of equipment                                                       ---            ---              7,375
      Issuance of Common Stock for consulting services                                ---            ---              3,413
      Changes in operating assets and liabilities:
         Accounts receivable                                                        23,883          24,543         (184,126)
         Inventories                                                                  (150)       (292,374)        (467,782)
         Prepaid expenses                                                           79,000          29,575         (114,609)
         Accounts payable and accrued expenses                                    (151,972)         90,192          126,915
         Accrued payroll and related taxes                                             841          (1,766)          46,507
         Deferred Revenue                                                           (1,915)          ---            197,775
                                                                                ---------------------------   --------------
Net cash used in operating activities                                             (684,390)       (798,934)     (15,247,068)

INVESTING ACTIVITIES
Patent expenditures                                                                   ---            ---           (136,017)
Purchase of investments                                                               ---            ---        (38,908,724)
Sales and maturity of investments                                                     ---          468,356       38,908,724
Purchase of property and equipment                                                  (3,197)         (1,829)        (962,714)
Proceeds from sale of equipment                                                       ---            ---             21,663
                                                                                ---------------------------   --------------
Net cash used in investing activities                                               (3,197)        466,527       (1,077,068)

FINANCING ACTIVITIES
Net proceeds from issuance of Convertible Preferred Stock                             ---            ---          4,848,258
Net proceeds from issuance of Common Stock                                       4,366,148           ---         16,271,028
                                                                                ---------------------------   --------------
Net cash provided by financing activities                                        4,366,148           ---         21,119,286
                                                                                ---------------------------   --------------

(Decrease) increase in cash and cash equivalents                                 3,678,561        (332,407)       4,795,150
Cash and cash equivalents at beginning of period                                 1,116,589       1,155,924            ---
                                                                                ---------------------------   --------------
Cash and cash equivalents at end of period                                      $4,795,150      $  823,517    $   4,795,150
                                                                                ===========================   ==============
</Table>


THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS.


<Page>


                                  Medwave, Inc.
                          (A Development Stage Company)

                          Notes To Financial Statements

                                  July 31, 2001


1.    DESCRIPTION OF BUSINESS

      Medwave, Inc. (the "Company"), a development stage company, is engaged
      exclusively in the development, manufacturing and marketing of a
      proprietary, noninvasive system that continually monitors arterial blood
      pressure, and in the development of related technology and products.

2.    BASIS OF PRESENTATION

      The financial information presented as of July 31, 2001 has been prepared
      from the books and records without audit. Financial information as of
      April 30, 2001 is based on audited financial statements of the Company but
      does not include all disclosures required by generally accepted accounting
      principles. In the opinion of management, all adjustments, consisting only
      of normal recurring adjustments, necessary for a fair presentation of the
      financial information for the periods indicated have been included. For
      further information regarding the Company's accounting policies, refer to
      the financial statements and related notes included in the Company's
      Annual Report on Form 10-K for the fiscal year ended April 30, 2001.

3.    SHAREHOLDERS' EQUITY

      On June 13, 2001, the Company completed the sale of 1,212,865 shares of
      its Common Stock in the second and final round of the private placement at
      a price of $4.25 per share, resulting in net proceeds of approximately
      $4.4 million. In connection with this round of the private placement, the
      Company issued warrants to purchase 1,334,151 shares of Common Stock at an
      exercise price of $4.25 per share. The warrants expire in June 2006.

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATION

The following discussion should be read in conjunction with, and is qualified
by, the Company's financial statements set forth in Item 1 of this Form 10-Q.

GENERAL

The Company, which was formed in 1984, is a development stage company that
currently employs seventeen full-time employees. Since our inception, we have
been engaged exclusively in the development of devices for monitoring and
devices for measuring blood pressure. Utilizing our proprietary technology, we
developed the Vasotrac(R) APM205A system which monitors blood pressure,
providing new readings approximately every fifteen heartbeats. We believe that
the continual blood pressure readings and non-invasive qualities of the Vasotrac
system make it the most advanced approach to blood pressure monitoring. In
February 1995, we received clearance from the US Food and Drug Administration
(FDA) to market the Vasotrac system. We have also developed a hand-held blood
pressure monitor, the Vasotrax(TM). This hand-held monitor is based on the
technology used in the Vasotrac system. In June 2000, we submitted a 510(k)
notification to the FDA for review of the Vasotrax hand-held monitor. In August
2000, we received FDA clearance, which has allowed us to begin marketing the
Vasotrax in the United States for use on adult patients by trained medical
personnel. In addition, and as a result of our supplier agreement with Nihon
Kohden of Japan, we are developing a module of our Vasotrac continual
non-invasive blood pressure monitor. The module is designed to be integrated
into the other company's larger, more comprehensive systems.


<Page>


We have incurred an accumulated deficit of $16,444,473 from our inception
through July 31, 2001. We expect to incur additional losses from development,
testing, regulatory compliance, sales, and other expenses at least until we
emerge from the development stage.

We have focused on building a dealer network so that we can seek nationwide and
ultimately worldwide sales coverage without the commensurate increase in sales
staff and cost that would occur if the same coverage were sought by building our
own employee sales force. In October 2000, we also began hiring a core team of
sales professionals to work with the dealer network. The success of our product
sales will depend upon the ability of dealers and/or sales professionals to sell
the products to the pre-hospital (EMT/EMS) environment, hospitals, the
post-hospital environment such as physician offices, and other markets. At this
time, our dealers have not demonstrated that they will be successful. However,
within the past several months we have expanded the number and broadened the
type of dealers with which we are working.

Our success is dependent upon the successful development and marketing of the
Vasotrac system, the Vasotrac module, and the Vasotrax hand-held monitor as well
as related technology. However, there can be no assurance that our products or
related technology will be successfully marketed or sold in sufficient
quantities and at margins necessary to achieve or maintain profitability.

In late December 1999, we entered into an exclusive distribution agreement with
3Ci of Atlanta, Georgia, a hospital - based distributor sales company with
nationwide coverage for critical care departments, for selling our Vasotrac
system to the hospital market in the United States. We converted this agreement
to a non-exclusive distribution agreement in December 2000 so that we could
increase the number of our direct sales employees and expand our distribution
network. In addition, in the fall of 2000, we entered into a non-exclusive
agreement with 3Ci for the sale of the Vasotrax hand-held monitor to the
hospital market in the United States. In March 2001, Allegiance Healthcare -
Respiratory Care acquired 3Ci. While we have not yet had the opportunity to meet
with representatives of 3Ci/Allegiance Healthcare subsequent to that
transaction, the parties have continued to conduct business under the terms of
the current contract. At this point, however, we are unable to determine what
effect, if any, the Allegiance Healthcare acquisition of 3Ci will have on
distribution and sales of our products or the ongoing relationship of the
parties. Although market visibility for the Vasotrac system from this
relationship is noticeably higher than before, we have yet to see the order flow
that would indicate successful market entry.

Between February 2000 and January 2001 we entered into several international
distribution agreements in Austria, Canada, China, Germany, Hong Kong, Italy,
Japan, Norway, South Korea, Spain, Sweden, Switzerland, and Taiwan. In the Asian
markets, we are currently working with the distributors to obtain the necessary
government clearances to be able to sell our Vasotrac system and Vasotrax
hand-held monitor in those countries. In August 2000, we received the CE mark
allowing us to sell the Vasotrac system in European Union countries. In January
2001, we received the necessary clearances to be able to sell into the Canadian
market. Although we have a distribution agreement in place in South Korea, we
are currently exploring additional distribution alternatives due to low initial
market penetration and local concerns in the South Korean healthcare market. We
were notified in the spring of 2001, that we received South Korean government
clearance to market the Vasotrac system in South Korea.

In June 2000, we signed an agreement for distribution of the Vasotrac system
with Nihon Kohden of Tokyo, Japan. Nihon Kohden is a very well known medical
device company in the Japanese market, with close to 50% market share in patient
monitoring. We have worked with Nihon Kohden to prepare the necessary
requirements to obtain Ministry of Health clearance, which is required prior to
sales commencing in the Japanese market. As part of our agreement with Nihon
Kohden, Nihon Kohden issued a purchase order to us valued at $250,000, which
will be completely fulfilled at the time of Ministry of Health clearance. Nihon
Nohden prepaid a portion of this order, which has been treated as deferred
revenue on our financial statements.


<Page>


In September 2000, we also signed an OEM module agreement with Nihon Kohden that
calls for us to develop and produce a Vasotrac module that will be integrated
into the Nihon Kohden patient monitoring product family. As a part of this
agreement, Nihon Kohden placed an initial order for Vasotrac OEM modules, to be
delivered over the initial 18 months, and paid us a down payment of $125,000,
which has been treated as deferred revenue on our financial statements.

We are currently adding our own sales employees to work with the dealers in
order to provide better product support. We currently anticipate a direct sales
force of approximately 10 employees that will work with and support a
distribution network focused on the pre-hospital, hospital, and post-hospital
environments. We are also currently looking for a distribution partner for the
Vasotrax hand-held monitor outside the hospital market. The success of our
product sales will depend upon the ability of dealers and/or sales
representatives to sell the products to the hospitals, their affiliates, and
other markets. At this time, dealers have not consistently demonstrated that
they will be successful.

The initial response regarding our Vasotrax hand-held monitor from focus groups
and limited showings has also been favorable. However, we may need to establish
additional distribution arrangements, and complement those arrangements with a
number of "in-house" experts. The Vasotrax hand-held product will be targeted at
the pre-hospital (EMT and EMS) market, the hospital market, and the
post-hospital markets (sub-acute, skilled nursing homes, homecare, and physician
offices).

The Company's ability to emerge from the development stage is also dependent on
our ability to hire additional employees for key operating positions, including
sales and marketing positions. Competition for such employees is intense and
there can be no assurance that we will be successful in hiring such employees on
acceptable terms or when required, or in maintaining the services of our present
employees. We preliminarily estimate that these additional employees will
increase employee-related expenses in excess of $500,000 during the next twelve
months. However, such requirements are subject to change and are highly
dependent on the development process for the system, including the manufacturing
scale-up process, market acceptance, and our distribution methods.

We are using cash and cash equivalents primarily to increase our sales and
marketing efforts and increase awareness of Medwave and our technology in the
market, to continue clinical testing of the Vasotrac system, Vasotrax hand-held
monitor and related technologies, to continue to validate our technology against
traditionally used blood pressure monitoring devices, to create peer-to-peer
consensus regarding Medwave's technology, and to provide working capital. Over
the next twelve months, we expect to spend in excess of $850,000 for research
and development. Specifically, we expect to use the funds to develop alternative
sensors (including sensors for use on pediatrics, and disposable sensors), to
sustain engineering support for manufacturing, to continue development of the
Vasotrax hand-held monitor, and to develop the Vasotrac OEM module. During the
next year, we do not expect to spend any material amount on equipment in
connection with these initiatives. Even assuming only limited sales, we believe
that our cash and cash equivalents should allow us to meet our cash requirements
for approximately eighteen months from July 31, 2001. If the development process
for our products does not proceed as expected because significant product design
changes are required to achieve market acceptance, unexpected difficulties are
encountered in attaining cost-effective manufacturability, the sales and
marketing costs are higher than expected, or the products are not accepted by
the market place, we may require additional capital at an earlier date. We may
seek such capital through bank borrowing, equipment financing, equity financing,
and other methods. Our financing needs are subject to change depending on, among
other things, market conditions and opportunities, equipment or other
asset-based financing that may be available, and cash flow from operations. Any
material favorable or unfavorable deviation from our anticipated expense could
significantly affect the timing and amount of additional financing that we may
require. However, additional financing may not be available when needed or, if
available, may not be on terms that are favorable to us or our security holders.
In addition, any such financing could result in substantial dilution to our
existing security holders.


<Page>


RESULTS OF OPERATIONS

The results of operations compares the three months ended July 31, 2001 and
2000, respectively. The analysis of liquidity and capital resources compares
July 31, 2001 to April 30, 2001.

Operating revenue was $172,900 and $84,500 for the quarter ended July 31, 2001
and 2000, respectively. The operating revenue increase was attributed to our
focus on increasing our sales channels in the U.S. and internationally.

Cost of sales and product development was $157,900 and $126,500 for the quarter
ended July 31, 2001 and 2000, respectively. The cost of sales and product
development increase was attributed to increased unit sales.

We incurred $133,900 and $260,000 for research and development expenses for the
quarter ended July 31, 2001 and 2000, respectively. The research and development
expense decrease was attributed to completing research and development of our
Vasotrax hand-held product.

We incurred $412,200 and $244,600 for sales and marketing expenses for the
quarter ended July 31, 2001 and 2000, respectively. The sales and marketing
expense increase was primarily attributable to an increase in the number of
sales personnel employed by us as we focus on increasing our sales channel in
the U.S. and internationally.

We incurred $171,800 and $172,700 for general and administrative expenses for
the quarter ended July 31, 2001 and 2000, respectively. The decrease in general
and administrative expenses was attributable to a minor decrease in expenses.

Interest income was $37,800 and $50,200 for the quarter ended July 31, 2001 and
July 31, 2000, respectively. The decrease reflects lower cash and cash
equivalents during most of the quarter as we use our investment accounts to fund
operations.

LIQUIDITY AND CAPITAL RESOURCES

Our cash and cash equivalents were $4,795,150 and $1,116,589 at July 31, 2001
and April 30, 2001, respectively. We incurred cash expenditures of $684,400 for
operations for the quarter ended July 31, 2001.

With our cash and cash equivalents, we believe that sufficient liquidity is
available to satisfy our working capital needs for approximately eighteen months
from July 31, 2001. We have no significant capital expenditure commitments.

Cash flows used in operations decreased to $684,400 for the quarter ended July
31, 2001 from $798,900 for the quarter ended July 31, 2000, a decrease of
$114,500. In both periods, we used cash flows primarily to fund operating
losses, which were partially offset by non-cash expense for depreciation. The
primary use of cash in operations for the quarter ended July 31, 2001 was for
decreases in accounts payable, partially offset by a decrease in prepaid
expenses. Increases in inventory was the primary use of cash in operations for
the quarter ended July 31 2000.

Net investing activities used $3,200 of cash in the quarter ended July 31, 2001,
for property and equipment additions. For the quarter ended July 31, 2000, the
conversion of marketable securities into cash provided $468,400 which was used
for operations.

Financing activities provided $4,366,100 of cash for the quarter ended July 31,
2001, and nothing for the quarter ended July 31, 2000. In the quarter ended July
31, 2001, the proceeds were from the June 2001 second and final round of our
private placement of common stock and warrants.


<Page>


ITEM 3.    QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
   Not applicable.

PART II. OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS
   Not applicable.

ITEM 2.  CHANGES IN SECURITIES

In a private placement conducted from March to June, 2001, we issued units
consisting of common stock and warrants to 67 accredited investors. In the first
round of the private placement, on March 20, 2001 we issued 181,125 units, each
unit consisting of one share of common stock and a five-year warrant to purchase
one and one-half shares of common stock, for aggregate cash consideration of
$1,154,672. The warrants become exercisable six months after the date of
issuance at an exercise price of $6.425 per share. In the second round of the
private placement, on June 13, 2001 we issued 1,212,865 units, each unit
consisting of one share of common stock and a five-year warrant to purchase one
share of common stock, in consideration of $4,867,164 cash and the tender of
45,100 of the units acquired in the March 20, 2001 round. The warrants become
exercisable six months after the date of issuance at an exercise price of $4.25
per share. Miller Johnson Steichen Kinnard, Inc., which acted as our agent in
the private placement, received a commission of $602,184, a five-year warrant to
purchase 13,603 shares at $6.425 per share and a five-year warrant to purchase
121,287 shares at $4.25 per share. We relied on Rule 506 under the Securities
Act of 1933 for the offer and sale of these securities. Each investor
represented in writing that the securities were being acquired for investment
and, in addition, the certificates representing the securities bear a
restrictive securities legend.

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES
   Not applicable.

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
   Not applicable.

ITEM 5.  OTHER INFORMATION

Statements made in this report that are stated as expectations, plans,
anticipations, prospects or future estimates or which otherwise look forward in
time are considered "forward-looking statements" and involve a variety of risks
and uncertainties, known and unknown, which are likely to affect the actual
results. The following factors, among others, as well as factors discussed in
our other filings with the SEC, have affected and, in the future, could affect
our actual results: resistance to the acceptance of new medical products; the
market acceptance of the Vasotrac system, the Vasotrax hand-held unit or other
products of the Company; hospital budgeting cycles; the possibility of adverse
or negative commentary from clinical researchers or other users of our products;
our success in creating effective distribution channels for our products; our
ability to scale up our manufacturing process; and delays in product development
or enhancement or regulatory approval. Consequently, no forward-looking
statement can be guaranteed and actual results may vary materially.


<Page>


ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

         (A)      EXHIBITS:
                  EXHIBITS DESCRIPTION
                  None

         (B)      REPORTS ON FORM 8K:
                  We filed an 8-K Report on June 15, 2001 concerning the June
                  13, 2001 round of our private placement of common stock and
                  warrants, which was amended by an 8-K/A Report filed July 27,
                  2001.




                                   SIGNATURES


In accordance with the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.



Date:    September 13, 2001             Medwave, Inc.


                                  By:     /s/ Timothy J. O'Malley
                                        ----------------------------------------
                                        Timothy J. O'Malley
                                        President and Chief Executive Officer


                                          /s/ Mark T. Bakko
                                        ----------------------------------------
                                        Mark T. Bakko
                                        Chief Financial Officer