Pethealth Inc.
TSX VENTURE : PTZ

Pethealth Inc.

June 05, 2006 15:39 ET

Pethealth Inc. Named one of Canada's Fastest-Growing Companies in 18th Annual PROFIT 100 Ranking of Canada's Fastest-Growing Companies

OAKVILLE, ONTARIO--(CCNMatthews - June 5, 2006) - Pethealth Inc. ("Pethealth" or the "Company")(TSX VENTURE:PTZ) a leading provider of pet insurance and pet related data management services to the North American companion animal industry, is proud to be ranked #25 in the 18th Annual PROFIT100 ranking of Canada's Fastest Growing Companies and once again the top company in the rapidly expanding area of companion animal products and services.

Ranking Canada's Fastest-Growing Companies by five-year revenue growth, the PROFIT 100 profiles the country's most successful growth companies. Published in the June issue of PROFIT, and online at PROFITguide.com, the PROFIT 100 is Canada's largest annual celebration of entrepreneurial achievement. "The PROFIT 100 are role models for anyone who wants to seize today's best business opportunities," says Ian Portsmouth, editor of PROFIT. "By differentiating their products and applying creative management thinking, Canada's Fastest-Growing Companies are outpacing the competition at home and abroad."

According to Pethealth's President & CEO, Mark Warren, "In 2005, we consolidated our position as Canada's largest provider of pet health insurance and the second largest provider in North America and currently have more than 150,000 policies currently in force. 2005 also marked a watershed year in our journey towards completing our vision of becoming the leading provider of integrated health-related information services to the companion animal industry, bringing unique products and services to veterinarians, shelters and pet owners."

Since inception in 1999, Pethealth has developed from a single service pet insurance provider into a vertically integrated full service provider of pet-related health and data management services to the North American companion animal industry. This transformation began with the creation in 2003 of 24PetWatch (www.24petwatch.com), a microchip and lost pet recovery network. Pethealth is now the largest provider of RFID technology and related services to veterinary clinics and animal shelters in Canada and one of the top providers in the U.S. market. Over 610,000 cats and dogs have been registered in the 24PetWatch registry to date and more than 35,000 new registrations are received each month.

In 2005, Pethealth rolled out additional innovative new services, 24PetMedInfo and 24PetMedAlert (see www.24petwatch.com), that offer pet owners the ability to both track their pets' medical records online and also to allow emergency veterinary personnel to access the information in a lost pet emergency. 2005 also marked the launch of the Company's suite of .NET based software solutions for veterinary clinics and animal welfare organizations throughout North America.

PetPoint™ (www.petpoint.com) is the first web-hosted management software program for animal welfare organizations in North America. In addition to providing a more efficient platform for shelters to manage their day-to-day operations, PetPoint also allows shelters to easily provide Pethealth's ShelterCare insurance and 24PetWatch microchip programs electronically at the point of adoption. To date, 314 animal welfare organizations have licensed PetPoint and more than 1 new organization moves to PetPoint each day.

EVE™ (www.eveforclinics.com), is the first web-based claims adjudication software for veterinary clinics. This program, the first of its kind in the pet insurance industry in North America, allows claims to be processed online at the veterinary clinic, thus enhancing the clinic/client relationship. To date, 193 clinics and animal hospitals use EVE.

"It is a wonderful acknowledgment of our Company and our entire staff to be recognized by PROFIT 100, as we are all very committed to meeting the needs of pet owners and the industry professionals who provide services to them," added Warren.

About PROFIT Magazine:

PROFIT: Your Guide to Business Success, offers news, strategies, tips, interviews and other resources to entrepreneurs leading Canada's fastest-growing companies. Each year PROFIT-which currently reaches more than 373,000 readers nationally-hosts a number of events that bring together business leaders in the fast-growth segment and champions the interests of those leaders. PROFIT was founded in April 1982 as Canada's first national magazine geared to entrepreneurs. Visit PROFITguide.com.

About Pethealth

Pethealth Inc. (TSXV: PTZ) is a leading provider of pet insurance and pet related data 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, ShelterCare, CherryBlue, 24PetWatch, PetPoint and EVE.

Pethealth is based in Oakville, Ontario. To find out more about Pethealth Inc. (TSXV: PTZ), visit the web site at www.pethealthinc.com.

Statements contained in this news release, if not historical, are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the results described in forward-looking statements.

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Pethealth Inc.
    Mark Warren
    President and C.E.O.
    (905) 842-2615
    or
    Pethealth Inc.
    Glen Tennison
    Chief Financial Officer
    (905) 842-2615