Pethealth Inc.
TSX : PTZ

Pethealth Inc.

November 18, 2013 08:30 ET

Pethealth Inc. Announces the Release of its PetPoint Report for October 2013 Revealing that Adoptions of Dogs and Cats Combined up 4.3% Year over Year

The October Report Also Includes for the First Time Adoptions Completed in Third Party Locations

OAKVILLE, ONTARIO--(Marketwired - Nov. 18, 2013) - (TSX:PTZ) Pethealth Inc. ("Pethealth" or the "Company") is pleased to announce the publication of its PetPoint Report for October 2013. For the first time the report includes same shelter adoption numbers for adoptions completed in third party locations.

For the month as a whole, intakes of cats were flat year on year while intakes of dogs declined 2%. Euthanizations of cats during October declined 8% from a year earlier while euthanizations of dogs declined 14% from October last year. Meanwhile, adoptions of cats increased 4% from October 2012 and adoptions of dogs increased 5% over the same period. Combined adoptions of cats and dogs increased by 4.3% over last year.

Data from 1,146 animal welfare organizations (AWOs) licensing the PetPoint animal management application was used for the October report. Those organizations saw 169,218 dogs enter their organizations (referred to as intakes) and 167,916 leave (referred to as outcomes). The full report can be seen by visiting www.petpoint.com.

590 AWOs out of the 1,146 completed at least one adoption in a third party location in both October 2012 and October 2013. Adoptions completed by these organizations totalled 10,099, up 2.1% over October 2012. Of the 590 third party locations, 222 or 37.6% were PetSmart® stores, 194 or 32.8% were Petco® stores, with the remaining 174 organizations counted as "other". Of the 10,099 adoptions completed in third party locations, 4,839 or 47.9% took place in a PetSmart store, with 3,076 or 30.4% of offsite adoptions taking place in a Petco store. Excluding those adoptions done in third party locations, adoptions completed in AWOs' own locations increased by 4.6% over October last year. The market share for third party location completed adoptions fell from 12.8% in 2012 to 12.5% this year. Data on adoptions being done in third party locations is being introduced in the October report and will now be part of the Company's monthly and annual PetPoint reports going forward.

"The addition of data on third party location adoptions is data which many of our shelter partners and Wall Street analysts have been requesting for some time," said Mark Warren, President and Chief Executive Officer of Pethealth. "The October data reveals that adoptions in third party locations continue to under-perform the pet adoption market as a whole, which is consistent with the view that as intake levels continue to decline on an aggregate basis, the need for third party locations is diminishing and, as more animal welfare organizations look to increase their market share in pet specialty retail, they will want to complete more adoptions in their own locations so as to better promote pet specialty retail sales in their own shelters or on their own ecommerce sites."

For more information, or to find out how you can subscribe for regional, state, quarterly, annual or other segmented data, please contact Brad Grucelski, Vice President, PetPoint Solutions at 1.866.630.7387 ext.284 or bradg@petpoint.com.

About PetPoint

PetPoint, first introduced in 2005, is now licensed by over 2,000 animal welfare organizations in North America and has facilitated the adoption of over 5-million pets. As a cloud based application, animal welfare organizations can not only better organize and care for their homeless and abandoned animals, but can also reduce significantly, if not eliminate, their IT-related infrastructure costs. PetPoint is provided free to animal welfare organizations on the basis that these same organizations use the Company's 24PetWatch microchip and Gift of Insurance programs for all companion animals adopted. Adoptable animals are then published on the Petango adoptable search platform. The 24PetWatch microchip program is the most widely used microchip and lost pet recovery service operating in both Canada and the United States.

About Pethealth Inc.

Pethealth is North America's second largest provider of medical insurance for dogs and cats to pet owners, operating in the United States, Canada and the United Kingdom. In addition, the Company is the leading provider of management software to North American animal welfare organizations through its SaaS-based application 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, PetPoint, Petango.com and ThePetangoStore.com.

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

Contact Information

  • Pethealth Inc.
    Mark Warren
    President and Chief Executive Officer
    (905) 842-2615

    Pethealth Inc.
    Glen Tennison
    Chief Financial Officer
    (905) 842-2615

    Pethealth Inc.
    Brad Grucelski
    Vice President PetPoint Solutions
    (905) 842-2615