Management consulting company Ma Foi Strategic Consultants has acquired 17.5 per cent stake in Coimbatore-based pharmacovigilance start-up Oviya MedSafe. The acquisition will mark its entry into the Rs 90,000-crore pharmaceutical industry. Oviya MedSafe was founded by J Vijay Venkatraman, a diabetologist and drug safety physician. K Pandia Rajan, founder of Ma Foi, said with this acquisition, Oviya MedSafe would grow and expand its operations in major cities across India as well as in select global locations by 2015. Venkatraman said strategic inputs and ongoing support from Ma Foi would help the company grow more steadily.
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