Pethealth Inc.

Pethealth Inc.

April 17, 2007 11:19 ET

Pethealth Inc. and PETCO Animal Supplies, Inc. Announce Extension of Their Strategic Alliance Agreement

OAKVILLE, ONTARIO--(CCNMatthews - April 17, 2007) - Pethealth Inc. (TSX VENTURE:PTZ) ("Pethealth" or the "Company") today announced that it and PETCO Animal Supplies, Inc. ("PETCO"), one of Pethealth's key strategic alliance partners, have agreed to extend their partnership until January 31, 2010. Further terms were not announced.

In April 2001, the two companies announced their first 3-year agreement, which was extended for 3 years in April 2004, under which Pethealth became the exclusive provider of pet insurance to PETCO customers in the United States. Since 2001, the two companies have worked together to market the PetCare pet insurance brand of insurance programs to PETCO's customers through a variety of PETCO channels including in-store, direct mail and on-line campaigns.

"We are delighted to be able to announce the extension of our agreement with PETCO," said Mark Warren, President and Chief Executive Officer of Pethealth. "We look forward to working with the PETCO team as we continue to extend the reach of the PetCare pet insurance program to the PETCO pet parent community."

PetCare pet insurance policies sourced from the various PETCO channels currently represent approximately 11% of the Company's active pet insurance policies.

"The PetCare programs have now become a significant part of our affiliated business strategy," said Mike Woodard, Senior Vice-President Business Development of PETCO. "We continue to be impressed by both the value and the service being offered to our customers by Pethealth."

About Pethealth

Pethealth 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 and PetPoint.

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


PETCO is a privately held specialty retailer that provides products, services and advice that make it easier for our customers to be great pet parents. We operate more than 850 stores in 49 states and the District of Columbia, as well as a leading pet products and information destination at Our nonprofit organization, The PETCO Foundation, has raised more than $34 million since its inception in 1999 to help promote and improve the welfare of companion animals. In conjunction with the foundation, we work with and support more than 4,200 local animal welfare groups across the country to help find homes for more than 200,000 adoptable animals every year.

Forward-Looking Statements

This press release contains information that is forward-looking information within the meaning of applicable securities laws. In some cases, forward-looking information can be identified by the use of terms such as "may", "will", "should", "expect", "plan", "anticipate", believe", "intend", "estimate", "predict", "potential", "continue" or the negative of these terms or other similar expressions concerning matters that are not historical facts.

Forward-looking information by its nature necessarily involves risks and uncertainties including, without limitation, the difficulty of predicting the current regulatory and supervisory environment, the timing and conditions to obtaining any regulatory approval, reliance on insurance underwriters for pet insurance policies, market acceptance and demand for existing and new products and services, including PetPoint and EVE Software and the 24PetWatch microchip program, the Company's ability to maintain and service new and existing customers, the protection of intellectual property associated with its products and services, the impact of competition generally and new competitive products, currency and foreign exchange fluctuations, risks associated with the Company's customer care solutions facility, and related risks and uncertainties. Additional risks and uncertainties affecting the Company can be found in the Company's Annual Information Form available on SEDAR at If any of these risks or uncertainties were to materialize, or if the factors and assumptions underlying the forward-looking information were to prove incorrect, actual results could vary materially from those that are expressed or implied by the forward-looking information contained herein. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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

Contact Information

  • Investor Relations Contacts:
    Pethealth Inc.
    Mark Warren
    President and Chief Executive Officer
    (905) 842-2615
    Pethealth Inc.
    Glen Tennison
    Chief Financial Officer
    (905) 842-2615