Pethealth Inc.
TSX : PTZ

Pethealth Inc.

September 10, 2009 12:24 ET

Pethealth Inc. Announces Its Entry Into the U.K. Companion Animal Microchip Marketplace via Its Pet Protect Brand

OAKVILLE, ONTARIO--(Marketwire - Sept. 10, 2009) - Pethealth Inc. (TSX:PTZ) ("Pethealth" or the "Company") is pleased to announce the launch of its companion animal microchip operations in the United Kingdom under its Pet Protect brand. Pet Protect is the Company's premium brand of pet insurance in the U.K. and is considered one of the premier pet insurance programs in the industry. Pethealth acquired the Pet Protect pet insurance business from Domestic & General Insurance in July, 2008.

The launch of its microchip operations in the U.K. will both complement and create additional synergies for the Company's North American companion animal microchip operations marketed under the 24PetWatch brand. Since the launch of 24PetWatch in North America in 2003, Pethealth has become the leading microchip distributor and database manager in the combined Canadian and U.S. markets with a specific focus on the animal welfare community. Pethealth is on pace to sell over 1-million microchips in North America in 2009 and total pet registrations in its database are now approaching 2.8-million and are doubling approximately every twenty-two months. Recently, a leading veterinary publication indicated that one in five microchipped dogs and cats in the U.S. has been implanted with a 24PetWatch microchip. In Canada, the Company estimates that more than three out of every five animals microchipped each year are microchipped under the 24PetWatch program.

Similar to Pethealth's operations in North America, the move to launch a microchip program in the U.K. will help drive pet insurance sales and provide a platform for the sale of ancillary services to dog and cat owners. Pethealth is the first and only microchip distributor/database manager to operate in all three countries. In 2005, Pethealth was also the first company to provide pet owners with the opportunity to have their pets' medical information digitised and stored in the Company's database attached to a pet's own microchip number, providing access to medical information online, twenty-four hours a day. In North America, the microchips are manufactured by Allflex USA, and in the U.K. by Allflex-Europe.

"The launch of our U.K. companion animal microchip program is a natural follow-on from our acquisition of Pet Protect in 2008," said Mark Warren, President and Chief Executive Officer of Pethealth. "While the U.K. microchip market has more players and the market is more developed, we nevertheless believe that the cost savings we can create through synergies with our much larger North American operation will allow us to capitalise on being the low-cost/highest service provider, which has driven our success in North America."

About Pethealth

Pethealth is North America's second largest provider of medical insurance for dogs and cats to pet owners operating in Canada, the United States and the United Kingdom. In addition, the Company is the leading provider of management software to North American animal welfare organisations through its SaaS program and is the leading provider of pet related database management services to the North American companion animal industry. Pethealth offers a unique range of products and services for veterinarians, shelters and pet owners through a number of wholly owned subsidiaries using a range of brand names including PetCare, 24PetWatch, Pet Protect, Petpals Direct, ShelterCare, PetPoint, PawsConnect and Petango.

Pethealth is based in Oakville, Ontario. To find out more about Pethealth, visit the website at www.pethealthinc.com.

Contact Information

  • Investor Relations Contacts:
    Pethealth Inc.
    Mark Warren, President and Chief Executive Officer
    (905) 842-2615
    or
    Pethealth Inc.
    Glen Tennison, Chief Financial Officer
    (905) 842-2615
    or
    Pethealth Inc.
    Steve Zeidman, Chief Technology Officer
    (905) 842-2615
    www.pethealthinc.com