Sales of Microchips and Database Related Services Led the Way in Pethealth's Non-Insurance Business in 2012
OAKVILLE, ONTARIO, Jan 18, 2013 (MARKETWIRE via COMTEX) --
Pethealth Inc. ("Pethealth" or the "Company") (TSX: PTZ) saw
continued growth in its non-insurance operations in 2012, led by its
microchipping operations in the United States, Canada and the United
Microchip sales for 2012 totalled 1,509,645, up 14% over 2011. All
three countries where the Company sells microchips for companion
animal use recorded record sales. Supporting the business was the
launch in Q1 of the MiniChip. The MiniChip, exclusive to the Company
in 2012, is one-third the size of the standard microchip which is
itself approximately the size of a grain of rice. The MiniChip, like
the standard sized microchip which accounted for the bulk of sales in
2012, is manufactured by Allflex USA, Inc., the world leader in
design, technology, manufacturing, and distribution of animal
identification systems for traceability purposes.
As of December 31, 2012, the Company's cloud-based animal management
system called PetPoint had been licensed by 1,955 animal welfare
organizations in the United States and Canada, representing an
increase of 182 organizations over the number licensed as of December
31, 2011. Included in this group were Central California SPCA,
Calgary Humane Society and Dekalb County Animal Services and
Dekalb County, a municipally owned organization in Georgia, is
representative of the growing trend amongst municipally owned animal
control organizations to move to PetPoint to take advantage of the
Company's hosted application. Whereas previously, municipally owned
organizations were reluctant or were prohibited from having third
parties host their data, financial pressures on municipal budgets as
well as the growing trend towards cloud applications are leading many
of these organizations to join the already large number of 501c3
animal shelters to license the Company's software. As of December 31,
2012, a total of 255 municipally owned animal welfare organizations
made up the 1,955 organizations in total that have now licensed
While the Company continues to offer two free versions of the
software, PetPoint Lite and PetPoint 4.0, the Company did introduce
in 2012 a pay-as-you-go version called PetPoint Enterprise Phase 1.
By December 31, 2012, 88 organizations had signed license agreements
to pay for the Company's industry leading software. Animal intakes
recorded in 2012 totalled 2.34-million, an increase of 4% over 2011.
Adoptions recorded through PetPoint totalled 973,000, an increase of
9% over 2011.
As of December 31, 2012, the Company held records for over 17-million
animals, including 12.6 million vaccinations and 2 million
spay/neuter surgeries in its position as the largest aggregator of
shelter data. The Company monetizes its platform on both a BtoB and
BtoC basis, offering in addition to microchips a growing range of pet
pharmacy products to be used by shelters in their day-to-day
operations. Included was the launch of the partnership in 2012 with
Velcera, Inc., the parent company of FidoPharm, Inc., in which
Pethealth began distributing PetArmor and PetTrust Plus, FidoPharm's
flea/tick and heartworm medications.
The Company monetizes adoptions through a range of consumer focused
programs, including its pet health insurance sold in 2012 under the
ShelterCare and 24PetWatch brand names and pet pharmacy and pet
specialty retail products through its PetangoStore.com web site and
via a growing number of white labelled stores created in partnership
with its animal welfare partners. As of December 31, 2012, five white
labelled stores had been completed, including those for San Antonio
Humane Society and Pennsylvania SPCA.
Total pet and pet owner registrants in the 24PetWatch database had
surpassed 6.38-million as of December 31, 2012, an increase of 21%
over the total as at December 31, 2011. The 24PetWatch database plays
a key role in Pethealth's insurance and non-insurance businesses
alike and is supported by a call centre that had an average of nearly
20,000 per month in 2012.
Inbound calls to the Company's non-insurance call centre totaled over
232,000 during the twelve months ended December 31, 2012. The Company
recorded over 90,000 sales, up 20% over 2011, of identification tags,
EmergencyCare policies and annual and lifetime memberships to the
Company's lost pet recovery service, representing a 39% conversion
rate of sales against inbound calls received.
"In 2012, our non-insurance business continued to lead the way for
the Company," said Mark Warren, President and CEO of Pethealth. "We
saw year on year growth in every quarter, which we believe is set to
continue on the back of our broadening platform with animal welfare
organizations in North America and our growing presence in the
companion animal market in the United Kingdom."
The Company expects to release its full year 2012 financial results
on or about March 8, 2013. Additionally, the Company will be
releasing its PetPoint Report for December on Monday, January 21
together with its 2012 year-end release, providing more detailed
information on pet intake and pet adoption data.
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 web site at www.pethealthinc.com.
President and Chief Executive Officer
(905) 842 2615
Chief Financial Officer
(905) 842 2615
SOURCE: Pethealth Inc.
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