Ma Foi Strategic acquires stake in Oviya MedSafe

Management consulting firm Ma Foi Strategic Consultants, founded by K Pandia Rajan, has acquired 17.5% stake in Coimbatore-based pharmacovigilance start-up Oviya MedSafe.

The acquisition will mark company's foray into the Rs 90,000 crore pharmaceutical industry.

Pandia Rajan, a pioneer in management and human resources, founded Ma Foi, which was later acquired by Randstad.

Oviya MedSafe is a pharmacovigilance consulting and service start-up founded by Dr J Vijay Venkatraman, a diabetologist, drug safety physician and one of the few exclusive players in the country in pharmacovigilance outsourcing industry.

Rajan said there is rapid and promising growth happening in the country's consulting and research/ analytics sector.

Venkatraman said the strategic inputs and ongoing support from Ma Foi would help the company grow more steadily and expand its scope of pharmacovigilance consulting services across the globe soon.