Pethealth Inc.
TSX : PTZ

Pethealth Inc.

June 04, 2007 11:13 ET

Pethealth Inc. Named one of Canada's Fastest-Growing Companies in 19th Annual PROFIT 100 Ranking of Canada's Fastest-Growing Companies for the Third Consecutive Year

OAKVILLE, ONTARIO--(Marketwire - June 4, 2007) - Pethealth Inc. ("Pethealth" or the "Company")(TSX:PTZ) a leading provider of pet insurance and pet related data management an advertising services to the North American companion animal industry, is proud to be ranked 51st in the 19th Annual PROFIT 100 ranking of Canada's Fastest Growing Companies.

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."

Mark Warren, President and Chief Executive Officer of Pethealth, said "The recognition of Pethealth Inc. by PROFIT 100 for the third consecutive year is a wonderful acknowledgment of our Company's commitment to the meeting of the needs of pet owners and the industry professionals who provide services to them."

In 2002, Pethealth placed 7th in the third annual ranking of Canada's 50 Hottest Startups by PROFIT Magazine. This is the third consecutive year the Company has made the PROFIT 100. In 2005, it placed 2nd and was 25th in the 2006 ranking.

In May, the Company completed its move from the TSX Venture Exchange to the main board of the Toronto Stock Exchange. "We take pride in the fact that, of the 50 hottest startups identified by PROFIT in 2002, only one other besides Pethealth now trades on the TSX," observed Warren.

Since it began operations in March 1999, Pethealth has developed from a single service provider of pet health insurance into a fully integrated provider of health and data management services to the North American companion animal industry. More recently, it has added media and advertising revenue as part of its model. The transformation began with the creation of 24PetWatch (www.24petwatch.com) through which the Company has become Canada's largest provider of RFID (microchip) technology and lost pet recovery services and one of the three largest providers in North America. Nearly 1.1-million dogs and cats are now registered in the 24PetWatch registry, with over 50,000 new pet registrations occurring every month.

Pethealth is also now the number one provider of animal management solutions for animal welfare organizations in North America. In 2005, the Company created PetPoint (www.petpoint.com), the first ASP .NET animal management system in the industry. To date, over 600 animal welfare organizations have licensed PetPoint, representing approximately 18% of the total market for companion animal adoptions. Through the PetPoint platform, the Company is able to more effectively sell its pet health insurance and other related services. The Company is also using the platform to build out its media and advertising businesses.

"Our goal is to continue to improve the earnings in the pet insurance business while growing our platforms, particularly as they relate to our RFID microchip and PetPoint shelter management software businesses, where our ongoing expansion is not only improving user experience but is creating some very unique and, we believe, ultimately highly profitable opportunities," 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. (TSX: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. (TSX: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 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
    Website: www.pethealthinc.com