Pethealth's 24PetWatch(TM) Microchip Program Sets New Monthly Record for Sales in March
OAKVILLE, ONTARIO, Apr 12, 2012 (Marketwire via COMTEX) --
Pethealth Inc. (TSX:PTZ) ("Pethealth" or the "Company"), North America's leading provider of RFID microchip technology for companion animals, operating in the United States, Canada, and the United Kingdom, announces record microchip sales for both March and the first quarter of 2012. The Company sold 132,925 microchips in March, up 23% over March 2011, surpassing the previous record of 130,250 recorded in January of this year. The increase in monthly sales was again driven by strong growth in the Company's North American animal welfare channel and expanding market share in the United Kingdom.
Sales in North America were also aided by the introduction of Allflex's new MiniChip(TM) which continued to gain share during the quarter in both the U.S. and Canada. The Company expects to introduce the MiniChip into the U.K. during Q2 2012.
For the quarter, the Company recorded sales of 390,695 microchips, up 26% over Q1 2011 and eclipsing the previous quarterly record of 359,642 microchip sales in Q3 last year.
Sales of microchips helped drive a record number of registrations in the Company's 24PetWatch database over the quarter with nearly 295,000 registrations taking place, pushing the number of pets registered in the 24PetWatch database to nearly 5.6 million as of March 31.
In the animal welfare channel specifically, microchip sales benefited from the 15% year-over-year increase in Q1 adoptions to a total of 229,059 recorded through the Company's industry leading PetPoint animal management system. The cloud based software application, first introduced by Pethealth in 2005, is now licensed by over 1,800 animal welfare organisations and is the most widely used application within the North American animal welfare community. PetPoint is provided free of charge to animal welfare organisations exclusively using 24PetWatch microchips.
U.K. sales in the first quarter were also strong, up more than 300% year over year. The Company continues to be able to offer more favourable pricing for its products than its competitors given the scale, volume and cost structure of its North American operations. The Company also expects sales growth in the U.K. to continue in the second quarter, aided by the introduction of the Allflex MiniChip.
As in North America, the launch and sale of the new MiniChip will be supported by Pethealth's "Recover a Pet, Uncover a Cure" campaign, in partnership with the U.K. based Pink Ribbon Foundation. Through the "Recover a Pet, Uncover a Cure" campaign, a portion of the purchase price of every MiniChip will be donated to the Pink Ribbon Foundation in support of breast cancer research. Additionally, as part of its U.K. campaign, the Company will be using Catrina Skepper, former model and TV presenter, and current spokesperson for its Pet Protect pet insurance program, to promote the Pet Protect microchip program and the supporting "Recover a Pet, Uncover a Cure" campaign.
Earlier this year, the Company completed agreements with both the American Breast Cancer Foundation and the Canadian Breast Cancer Foundation - Ontario Chapter which also see part of the proceeds from the sale of microchips going to fund breast cancer research in the United States and Canada, respectively, again as part of the Company's "Recover a Pet, Uncover a Cure" campaign.
About Pink Ribbon Foundation
The Pink Ribbon Foundation mission is to give financial support to charitable organisations in the United Kingdom providing assistance and relief to those affected by breast cancer as well as those working to advance its early detection and treatment.
Find out more about the Pink Ribbon Foundation at http://www.pinkribbonfoundation.org.uk/.
About Canadian Breast Cancer Foundation
Since 1986, the Canadian Breast Cancer Foundation has been at the forefront of a nation-wide movement to raise awareness and mobilize action on breast cancer. Today, the Foundation is the leading organization in Canada dedicated to creating a future without breast cancer. Our investments in vital research, education and health promotion programs have led to progress in breast cancer prevention, diagnosis, treatment and care. Our goal is to reduce the number of people diagnosed with breast cancer, reduce mortality for those who develop the disease, and improve quality of life for those affected. We direct donor dollars to world-class researchers and clinicians who are making groundbreaking progress in breast cancer prevention, diagnosis, treatment and care. Since 1986, the Foundation's Ontario Region has awarded over $84 million in funding for nearly 600 grants, supporting research projects, fellowships and community health initiatives.
About Pethealth Inc.
Pethealth is a leading provider of companion animal services in North America and the United Kingdom. In addition, the Company is the leading provider of management software to North American animal welfare organisations through its cloud-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, PetProtect, petPals Direct, ShelterCare, PetPoint, Petango.com and ThePetangoStore.com.
Pethealth is based in Oakville, Ontario. To find out more about Pethealth, visit the web site at www.pethealthinc.com.
SOURCE: Pethealth Inc.
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