Check My Pet XP

About the offering

CheckMyPet XP is reshaping the landscape by offering pet owners a revolutionary solution for detecting unfavorable health symptoms quickly, conveniently, and stress-free. The company’s platform utilizes state-of-the-art pet health and wellness testing panels that rely on a patented dry blood cell collection card, setting it apart from existing market offerings. Overview: CheckMyPet XP (“CMP” or the “Company”) is at the forefront of innovation in the pet healthcare industry, pioneering in-home blood testing for pets. As the first-mover in this space, CMP is reshaping the landscape by offering pet owners a revolutionary solution for detecting unfavorable health symptoms quickly, conveniently, and stress-free. CMP also provides pet owners with early detection capabilities for potential hidden health issues. The insights gained from these panels empower pet owners to take proactive measures, translating health data into actionable steps for their furry companions. Technology: How does CMP’s tech revolutionize the pet healthcare industry? 1. The company’s platform utilizes state-of-the-art pet health and wellness panels that rely on a patented dry blood collection card, which allows for quantitative testing, setting it apart from existing market offerings. 2. CMP holds an exclusive license for use of the patented dry blood collection card. 3. The company offers a seamless experience through fully-integrated and user-friendly back office technology that streamlines the process for purchasing and submitting blood collection kits for testing. 4. Unlike traditional methods, CMP’s innovative kits eliminate the need for cold storage and test tubes, requiring only a small blood sample obtained with a small gauge needle, prioritizing the comfort of pets by avoiding larger, more painful needles and invasive sampling techniques. 5. The patented dry blood collection card, classified as a Class 1 Specimen Transport Device, ensures stability up to 165°F and can last up to a month in the transport bag without special handling. Problem: CMP is at the forefront of addressing critical challenges in the pet healthcare landscape by pioneering in-home blood collection to revolutionize the industry. 1. High Costs: The primary issue at hand is the significant cost and inconvenience associated with traditional veterinary care.Many pet owners express concerns about the high expenses of veterinary visits, ranging from $50 to $250 for a typical checkup and potentially up to $500 for specialized screening. 2. Lack of Time: Traditional solutions for pet testing typically require pre-scheduled vet visits, which create a logistical puzzle for pet owners due to busy schedules, tight work commitments, and other modern-day challenges that limit free time. 3. Stressful for Pets: While it is a cliché that most pets hate vet visits, for many pets, a visit to the vet can induce stress and anxiety, sometimes severe. While most prevalent in cats, vet visits can also cause elevated levels of stress and anxiety in dogs. In addition, traditional testing techniques are more invasive and can require larger gauge needles, which causes further discomfort and stress. This leads some pet owners to put off important testing because they do not want to put their furry friends through that ordeal. 4. Lack of Options: Current at-home sample collection solutions rely only on urine, hair, or stool samples, as use of whole blood requires special handling, refrigeration, etc. This severely limits the conditions that can be currently monitored from the convenience of home. 5. Battling the Unknown: You cannot treat what you cannot see, and some combination of the problems above lead many pet owners to put off important wellness testing until a pet becomes sick. Deferred treatment of many conditions can be costly, effect a pet’s long-term quality of life, and even lead to death. Solution: The company’s platform is strategically designed to tackle the critical challenges found in the pet healthcare sphere through in-home state-of-the-art pet health and wellness panels. 1. Combatting High Costs: By saving the cost of a vet visit and cutting the cost of most testing by around 30%, CMP’s at-home pet sample collection kits provide significant cost-savings for pet owners. 2. Maximizing Time: With CMP’s fully integrated and user-friendly at-home pet health panels, pet owners can ensure their pets get the testing they need on their timetable, without having to juggle other important parts of their busy work and life schedule. CMP’s lab partners deliver accurate and reliable results within 3-5 days, including shipping. 3. Reducing Stress for Pets: Pets are most comfortable at home, so sample collection provided in the home puts less stress on our furry friends than traditional offerings in vet offices. In addition, CMP’s kit only requires a small blood sample, obtained with a small gauge needle. CMP’s at-home sample collection solution can give pet owners peace of mind that their furry friends can avoid stress and anxiety of vet visits for preventive wellness monitoring. 4. Providing Options: CMP has collaborated with veterinary professionals, and integrated the latest tech innovations, to provide the most comprehensive list of health and wellness lab panels ever available for at-home pet health monitoring. The process revolves around a patented serum separating dry blood collection card, which allows for quantitative testing. What’s more, CMP holds the exclusive license to utilize this tech in the pet healthcare industry. 5. Empowering Pet Owners: By removing these barriers to access, CMP puts pet owners in the driver’s seat of their pet’s health. The insights gained from our panels empower pet owners to take proactive measures for their pet’s health, ultimately translating health data into actionable steps to ensure their pet’s long-term health and prevent the higher costs — both in money and quality of life — associated with ailments that go untreated. CMP’s holistic approach provides a comprehensive and efficient solution to enhance the overall well-being of the pet population, while offering convenience and peace of mind to their owners. Business Model Value Proposition: Since blood work for pets is a crucial part of veterinary diagnostics in terms of monitoring health and detecting illnesses, CMP is well positioned to be the first mover in the market for in-home pet blood sample collection with its dry blood collection card kits. CMP is aimed at giving pet owners a solution for easy symptom screening, support with clinical diagnosis, and the preventive/proactive care that pet owners in the U.S, both want and need. Customer Segments/Channels: Our targeted customer base of pet owners, many who treat dogs and cats as family members, can be reached through: 1. Direct to Consumer: Sales from CMP online presence mailed directly to end user. 2. Pet Care Suppliers/Chain Stores: Wholesale to suppliers and retail chains. 3. Pet Experts/Grooming: Wholesale to veterinary offices, groomers, and similar pet experts. Customer Relationships: Our targeted customer relationship strategy of building the CMP Community can generate meaningful incremental upside: 1. Increased Brand Awareness & Reputation: Customers who are part of a brand community are more likely to share the brand’s content and talk about it with others. 2. Increased Customer Loyalty: Customers who feel like they belong to a brand are more likely to continue supporting it, make repeat purchases, and refer new customers. 3. Improved Products: Brand communities can provide valuable feedback on products, including pain points, suggestions for new features, and ideas for improved products. 4. Better Marketing Strategies: Brand communities can help brands refine their marketing strategies to better meet customer demands by providing insights into customer preferences and behaviors. Revenue Streams: Our revenue is generated through multiple streams: 1. Pet Health Check Panels: Convenient and comprehensive collection kits delivered to the home. 2. Vet Tech Service: Increased revenue through the creation of an Uber-like vet tech network for in-home sample collection. 3. CheckMyPet App Subscription: Strengthen core user base with a subscription offering. 4. Advertising & Merchandising: Monetize increased site traffic through advertising and merchandising channels. 5. Adjacent In-Home Categories: Expand target customer segments by adding products such as vaccinations, DNA testing, gift sets, etc. Cost Structure: Our costs are allocated to: 1. Research & Development: Constant innovation in tech infrastructure and product offerings to maintain leadership in the marketplace. 2. Manufacturing & Production: Costs associated with maintaining appropriate supplies of health check kits and associated products. 3. Marketing: Targeted marketing to reach customers segments and channels, including social media and traditional methods, as well as content creation. 4. Operational Expenses: Day-to-day expenses for business operation, including shipping, handling, and insurance. Key Activities: 1. Processing Panels: Mailing health kits to consumers, processing results from labs, and returning results to consumers. 2. Market Adaptation & Education: Verifying efficiency of products and services, adapting to market conditions and innovations, and educating client base on benefits of CMP’s technology. 3. Regulatory Compliance: Ensuring all products and services meet industry-specific regulations and standards. 4. TeleVet Content: Maintain relationships with network of veterinarians to help pet owners understand their pet’s health better and get recommendations for long-term pet health quality. Key Resources: 1. Patented Technology: Exclusive license for use of patented dry blood collection card in pet healthcare. 2. Expert Team: Our skilled team of professionals provide deep industry knowledge and technical expertise. 3. Partnerships: Partnerships with the TeleVet Network. Key Partnerships: 1. Supply Chain Partners: Reliable pet care suppliers, distributors, and retailers. 2. Industry Experts: Collaborations with industry experts such as vets, industry associations, pet groomers, and others in the pet community. 3. Blood Processing Labs: Partnerships with certified labs to provide reliable results in 3-5 days. 4. Postal Services: Partnerships with largest players to ensure safe and efficient delivery of health kits to consumers and back to the lab. 5. Technical & Regulatory Consultants: Experts who guide us through industry-specific compliance and innovation. By integrating our value proposition across this diverse marketplace, CMP is not just a product company, but a strategic partner for businesses and professionals seeking to revolutionize the pet healthcare industry. Our technology puts pet healthcare decisions in the hands of the pet owner by making early detection of unfavorable health symptoms simpler, faster, more convenient, and stress-free. Market Projection The domestic pet industry is large, rapidly-growing, and has highly-attractive fundamentals in the health segment. The U.S. pet industry, particularly for domestic pets, has been growing steadily and is driven not only by an aging population seeking animal companions, but also by the availability of pet health insurance options, heightened awareness of and spending on pet health, and rapidly increasing rates of pet ownership by younger generations. The rapidly growing U.S. pet industry seeks faster, more accurate, and 24/7 access to pet health data, and pet owners are much more concerned about their pet’s health nowadays, as a large majority view their pets as members of the family. As a result, they want access to all aspects of their pets’ health, either online, on a computer, or from a smart phone in the palm of their hand. With tools such as online symptom checkers providing early health warnings, screening solutions, support with diagnosis, and explanations of diseases, pet owners are now becoming active participants in their pets’ wellbeing. The veterinary services market in the US is showing a growth trend with an exponential increase in market size, reflecting a rising demand for veterinary care. The lab diagnostics segment focused on blood work for pets shows: 1. According to Grand View Research, the global veterinary diagnostics market, which includes blood work and other related services, was valued at around $3.0 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 7.0% from 2022 to 2030. 2. Major companies include IDEXX Laboratories, Antech Diagnostics, Zoetis, Thermo Fisher Scientific, and VCA Inc.; IDEXX has thelargest market share. 3. Key customers include vet clinics and hospitals providing services to pet owners and animals, shelters, research labs, zoos and livestock producers. 4. Common tests include complete blood counts, blood chemistry panels, electrolyte panels, glucose testing, thyroid screens, and tests for heartworm/parasites. 5. Growth drivers include rising pet health expenditures, demand for preventative care and early diagnosis, and pet insurance coverage for labs. 6. Industry trends include point-of-care analyzers in clinics, reference lab and vet practice consolidation, specialized genetic tests, and veterinary telehealth. 7. Pricing can range from $50 for simple lab work up to $200-$300 for more extensive panels and specialty testing. Competition CMP is the first-mover for in-home blood sample collection for pets. CheckMyPet enjoys a distinct advantage in the pet healthcare sector as the first-mover in at-home blood panels for pets. Facing a landscape with a lack of meaningful competition, the customer base is notably under-served and under-penetrated, with no existing blood sample collection solutions currently available in the marketplace for pets. While a handful of in-home testing products exist, none offer a comprehensive catalogue of panels, and crucially, none provide blood sample screening – the most reliable and accurate method for veterinary diagnostics. This positions CMP uniquely as the pioneer in the market of in-home pet blood screening, further solidified by their exclusive license from Advance DX, the patent holder and supplier of the dry blood collection card technology for pets. With a focus on comprehensive and accurate testing, CMP stands poised to meet the significant unmet needs in the market, positioning itself as a leader in the emerging landscape of in-home pet health diagnostics. Traction & Customers Proven Technology & Exclusivity: – CMP has negotiated exclusivity in the pet blood sample collection and transportation segment with the supplier holding the patent for the dry blood card technology currently utilized by Everlywell. – The dry blood card collection technology boasts 100% accuracy across use cases. – The card is listed as a Class 1 Specimen Transport Device, which has been tested for stability up to 165°F and lasts up to 2 months in our transport bag without the need for special handling or refrigeration. Growing Demand: Pet Ownership and Spending are Growing Rapidly. – 66% of U.S. households (approximately 86.9 million homes) own a pet, with a CAGR of 2.3%. (APPA National Pet Owners Survey) – Between 2018 and 2022, pet spending in the U.S. grew by 51.16%, from $90.5 billion to $136.8 billion. (APPA Industry Stats) – Pet owners spend approximately $37 billion annually on veterinary care and related health and wellness products. (APPA Pet Industry Spending) Looking Ahead: The Pet Industry is Seeing an Increasing Focus on Pet Health & Wellness. – 85% of dog owners and 76% of cat owners consider their pets to be members of the family. (APPA Pet Ownership) – 36% of dog owners would spend $4,000 or more out-of-pocket on life-saving medical care for their dogs. 24% of pet owners would go into debt over a surprise vet bill of $1,000-$4,999. (AVMA Pet Health) – As of 2022, pet owners spend more on veterinary care, supplies, live animals, and OTC medicine than on pet food and treats, and this trend is projected to continue. (APPA Industry Trends)

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