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Press Press Releases 2006
Oakville , ON – September 12, 2006 . Pethealth Inc. (TSX VENTURE: PTZ) (“Pethealth” or “The Company”), is pleased to announce that it reached certain milestones in the development of its non-insurance businesses during the month of August. The Company sold 51,800 microchips during the month, surpassing the 50,000 microchip plateau for the first time. This amount included a record 45,700 microchips sold to animal welfare organisations and veterinary clinics in the United States. Pethealth sells its microchips and related services under the 24PetWatch brand name. For the first eight months of 2006, microchip sales totalled 318,425, up 84% over the first eight months of 2005. The Company began selling microchips as an adjunct to its core insurance business in Canada in February 2003 and in the U.S. in July 2003. The Company sells its microchips in a price range of USD 4.50 to USD 9.95 in the United States and in a range of CAD 5.25 to CAD 9.75 in Canada The total number of dogs and cats registered in the 24PetWatch database surpassed the 700,000 mark during August. As of August 31, total registrations, including registrations of dogs and cats microchipped with other providers’ technologies, stood at 717,512, up slightly more than 100% from a year ago. Monthly revenue generated from direct mail sent to pet owners whose pets are registered in 24PetWatch exceeded CAD 70,000 for the first time in August. This revenue is derived from the sale of ancillary services and does not include revenue generated from pet insurance policies sold to these same pet owners for their dogs and cats. Approximately 5% of those pets currently registered in 24PetWatch are insured under one of the Company’s pet insurance programs. Pethealth began conducting direct mail tests to its 24PetWatch database in March of this year. Results in August were from the third test to approximately 34,600 pet owners. Returns from the third test are continuing in September. A fourth direct mail test is now being conducted and a fifth is planned for the fourth quarter. Larger and more frequent direct mail campaigns are expected to begin in 2007 once the Company has been able to measure the results from the five tests to be completed this year. The net revenue from the first three tests is at significant margins. The Company is also pleased to report that animal welfare organisations (including humane societies, SPCAs, rescue groups and animal control facilities) licensing PetPoint, the Company’s ASP .NET animal management system, surpassed the 400 mark. Currently, 415 organisations have licensed PetPoint, which in less than two years has become the most widely used software in the animal welfare industry in North America. PetPoint is provided free of charge to those organisations using the Company’s 24PetWatch microchip program. The business case for PetPoint is three-fold: first, to reduce the cost to the Company of delivering its services, including insurance to new adopters for their dogs and cats; second, to provide the base for the creation of additional revenue streams for the Company; third, to provide the Company with a competitive advantage in providing the best lost pet recovery service in North America. During August, the Company also announced that it had completed the development of three new modules for PetPoint: a Transfer module, which for the first time allows animal welfare organisations using PetPoint to transfer medical information for those pets moving between shelters, at the click of a mouse. A growing trend in animal welfare has been the transport of adoptable dogs and cats from low adoption rate shelters to high adoption rate shelters; and its Humane Law Enforcement and Animal Control modules, allowing the Company to better market its range of services to animal welfare organisations which also have animal control and humane law enforcement mandates in their respective communities. Currently, more than one animal welfare organisation per day is completing its move to PetPoint. The Company also expects to unveil its Lost and Found module for PetPoint during the fourth quarter of 2006. This module, designed to allow the Company’s lost pet recovery specialists to ‘virtually’ search animal welfare organisations using PetPoint for lost pets, will again be an industry first and will further strengthen the Company’s claim of being the pre-eminent service provider in the companion animal microchipping industry. “A lot of hard work by our team over the past few months is responsible for us achieving these milestones,” said Mark Warren, President and Chief Executive Officer of Pethealth. “Our success in the non-insurance area in 2006 to date, not only in terms of the building out of our infrastructure, but also in confirming its revenue potential, is allowing us to take Pethealth beyond simply being a leading provider of pet health insurance to pet owners in Canada and the United States. Being the only Company that is fully integrated in terms of software provision to shelters and clinics, RFID technology distribution and database management, and medical information and pet health insurance, leaves us well placed to take advantage of the growing synergies that exist between these various areas, thus allowing us to generate and deliver efficiently new products and services not previously available to pet owners.” About Pethealth Pethealth is a leading provider of pet health 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 and 24PetWatch. Pethealth is based in Oakville, Ontario. To find out more about Pethealth, visit the web site at www.pethealthinc.com. The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Not for dissemination in the United States of America or to United States news wire services.
For further information, please contact:
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