 "hospitals, healthcare, private health infrastructure, expenses")
Medway Hospitals has secured $5 million in the first round of institutional equity funding led by Kyra Ventures and attended by family offices, said the Chennai-based group on Thursday.
Medway Hospitals operates eight multi-multispeciality hospitals in Tamil Nadu and Seemandhra, providing services in critical care, orthopaedics, neurology, nephrology, neurosurgery, organ transplantation, pulmonology and urology. It has a dedicated unit for treating cardiovascular diseases (CVD). The chain has around 500 beds.
Medway set up a heart institute in Chennai in 2021: It is the only of its kind in South India to get accreditation from Joint Commission International and National Accreditation Board for Hospitals & Healthcare Providers. Medway Heart Institute has successfully performed more than 1000 heart surgeries and 3000 cath-lab procedures, said the group in a statement.
Medway started an organ transplant programme in 2021 and has successfully performed over 150 renal transplants. "Our focus has always been providing quality healthcare in Tier-II cities and have centres of excellence in key cities. This investment will help us accelerate our expansion plans and reach 1000 beds by 2026. Our hospitals have proficiency in managing and treating a wide spectrum of complex medical conditions," said T Palaniappan, chairman of Medway Group of Hospitals.
“Less than a month ago we launched our Institute for Pulmonology & Pulmonary Rehabilitation [in Chennai] to cater to the increased respiratory illnesses in children and the elderly," he said.
"We are excited to partner with Medway Hospitals on their mission to elevate healthcare standards in India. The promoters are committed to closing the healthcare gap in underserved areas by creating access to affordable, patient centric clinical excellence,” said Hari Prasad, partner, Kyra Ventures.
Nova Capital Advisors acted as advisors in the transaction.
