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Albertsons acquires Livonia-based MedCart Specialty Pharmacy

MedCart Specialty Pharmacy

MedCart Specialty Pharmacy of Livonia was founded by Ed Saleh and Eddie Abieda in 2006

MedCart Specialty Pharmacy of Livonia has sold its business to Albertsons Cos., the nation's second largest grocer and pharmacy outlet based in Boise, Idaho.

Financial terms were not disclosed.

Over the past four years, MedCart, a provider of pharmacy services for people with complex diseases, has increased its revenue from $51 million in 2013 to $163 million last year. The privately owned company, which had 76 full-time employees as of January, is one of Crain's fastest growing Private 200 companies.

In 2013, MedCart expanded operations to all 50 states as it opened a national fulfillment hub. Its 2015 sales also grew after launching new therapies in hepatitis C and oncology drugs.

MedCart was founded by Ed Saleh and Eddie Abieda in 2006.

"We've worked hard to create an infrastructure that serves patients and providers with the utmost in quality specialty care services and coordination that are required for these medications," Saleh, vice president of specialty business development for MedCart, said in a statement. "Albertsons Cos. presented an excellent opportunity for us to extend our mission to more patients."

MedCart fits nicely with the company's pharmacy growth plan, Mark Panzer, Albertsons' senior vice president of pharmacy, health and wellness, said in a statement. "Their team has done a tremendous job establishing a service culture that focuses on the patient," he said.