SEATTLE, Nov. 03, 2022 (GLOBE NEWSWIRE) — Trupanion, Inc. ( TRUP), the main supplier of medical insurance coverage for cats and canines, introduced immediately the signing of a definitive settlement to accumulate Royal Blue s.r.o, the father or mother firm of PetExpert, a veterinary-centric pet insurance coverage supplier with tens of 1000’s of insurance policies and operations within the Czech Republic and Slovakia.
There are an estimated 1,300 veterinary hospitals within the Czech Republic and Slovakia and over 95% of those have connectivity to the PetExpert platform.
PetExpert marks Trupanion’s second European acquisition, including a well-established, fast-growing firm in help of its international growth plans. Trupanion expects further synergies from its not too long ago accomplished acquisition of Good Paws, together with its present relationships with the veterinary neighborhood.
“We’re excited to deliver collectively our like-minded companies, permitting us to collectively work to remove the financially burdensome reimbursement mannequin in Europe and allow pet homeowners and veterinarians to give attention to high quality of care over monetary issues,” stated Simon Wheeler, EVP of Worldwide at Trupanion. “PetExpert swiftly broadens our European footprint into the Czech Republic and Slovakia, and we count on Belgium and Poland to observe within the coming months.”
“We’re thrilled to be becoming a member of the Trupanion staff,” stated Derek Cummins, CEO & co-Founder with Jan Moravec, co-Founder & CTO of PetExpert. “We share the identical entrepreneurial tradition and keenness to assist as many pet dad and mom as attainable present the perfect veterinary medical care for his or her pets. On the helm of PetExpert, Jan and I look ahead to accelerating Trupanion’s growth throughout Europe and past.”
“We’re excited to welcome PetExpert to Trupanion and work collectively to advance our worldwide growth initiatives, a key a part of our 60-month plan,” stated Margi Tooth, President of Trupanion. “We imagine that Continental Europe’s underpenetrated market holds nice alternative for our high-coverage Trupanion product, with its distinctive help for pet dad and mom and the veterinary neighborhood alike, to differentiate itself because the product of alternative.”
The transaction is predicted to shut within the fourth quarter of 2022 and no further phrases have been disclosed. Trupanion doesn’t anticipate a fabric monetary impression to its 2022 monetary outcomes because of this acquisition.
About Trupanion
Trupanion is a frontrunner in medical insurance coverage for cats and canines all through the US, Canada, Europe, Puerto Rico and Australia with over 800,000 pets enrolled. For over 20 years, Trupanion has given pet homeowners peace of thoughts to allow them to give attention to their pet’s restoration, not monetary stress. Trupanion is dedicated to offering pet homeowners with the very best worth in pet medical insurance coverage with limitless payouts for the lifetime of their pets. With its patented course of, Trupanion is the one North American supplier with the know-how to pay veterinarians straight in seconds on the time of checkout. Trupanion is listed on NASDAQ underneath the image “TRUP”. The corporate was based in 2000 and is headquartered in Seattle, WA. Trupanion insurance policies are issued, in the US, by its wholly-owned insurance coverage entity American Pet Insurance coverage Firm and, in Canada, by Omega Basic Insurance coverage Firm. Trupanion Australia is a partnership between Trupanion and Hollard Insurance coverage Firm. For extra info, please go to trupanion.com.
About PetExpert
Based in 2018, PetExpert is the chief within the on-line pet insurance coverage market within the Czech Republic and, since 2020, has supplied pet insurance coverage in Slovakia. PetExpert gives insurance coverage to tens of 1000’s of purchasers within the Czech Republic and Slovakia. Extra info is out there at www.petexpert.cz and https://www.fb.com/PetExpertCZ
Ahead-Wanting Statements
This press launch comprises forward-looking statements inside the that means of Part 27A of the Securities Act of 1933 and Part 21E of the Securities Alternate Act of 1934 referring to, amongst different issues, expectations, plans, prospects and monetary outcomes for Trupanion, together with, however not restricted to, its expectations concerning its skill to proceed to develop its enrollments and income, and in any other case execute its marketing strategy. These forward-looking statements are based mostly upon the present expectations and beliefs of Trupanion’s administration as of the date of this press launch, and are topic to sure dangers and uncertainties that would trigger precise outcomes to vary materially from these described within the forward-looking statements. All forward-looking statements made on this press launch are based mostly on info accessible to Trupanion as of the date hereof, and Trupanion has no obligation to replace these forward-looking statements.
Particularly, the next elements, amongst others, might trigger outcomes to vary materially from these expressed or implied by such forward-looking statements: the closing of the transaction with PetExpert; our skill to combine and coordinate PetExpert’s assets and capabilities with our personal; the flexibility to attain or preserve profitability and/or applicable ranges of money circulation in future durations; the flexibility to continue to grow our membership base and income; the accuracy of assumptions utilized in figuring out applicable member acquisition expenditures; the severity and frequency of claims; the flexibility to take care of excessive retention charges; the accuracy of assumptions utilized in pricing medical plan subscriptions and the flexibility to precisely estimate the impression of latest merchandise or choices on claims frequency; precise claims expense exceeding estimates; regulatory and different constraints on the flexibility to institute, or the choice to in any other case delay, pricing modifications in response to modifications in precise or estimated claims expense; the effectiveness and statutory or regulatory compliance of our Territory Accomplice mannequin and of our Territory Companions, veterinarians and different third events in recommending medical plan subscriptions to potential members; the flexibility to retain present Territory Companions and improve the variety of Territory Companions and lively hospitals; compliance by us and people referring us members with legal guidelines and laws that apply to our enterprise, together with the sale of a pet medical plan; the flexibility to take care of the safety of our information; fluctuations within the Canadian forex alternate price; the flexibility to guard our proprietary and member info; the flexibility to take care of our tradition and staff; the flexibility to take care of the requisite quantity of risk-based capital; our skill to implement and preserve efficient controls, together with over monetary reporting; the flexibility to guard and implement Trupanion’s mental property rights; the flexibility to efficiently implement our alliance with Aflac; the flexibility to proceed key contractual relationships with third events; third-party claims together with litigation and regulatory actions; the flexibility to acknowledge advantages from investments in new options and enhancements to Trupanion’s know-how platform and web site; and our skill to retain key personnel.
For an in depth dialogue of those and different cautionary statements, please check with the danger elements mentioned in filings with the Securities and Alternate Fee (SEC), together with however not restricted to, Trupanion’s Annual Report on Kind 10-Ok for the yr ended December 31, 2021 and any subsequently filed reviews on Kinds 10-Q and 8-Ok. All paperwork can be found by the SEC’s Digital Knowledge Gathering Evaluation and Retrieval system at https://www.sec.gov/or the Investor Relations part of Trupanion’s web site at https://buyers.trupanion.com/.
Contacts:
Trupanion
Buyers:
Laura Bainbridge, Vice President, Company Communications
[email protected]
