Medway Hospitals raises USD 5 million

Medway Hospitals secured its first round of institutional equity funding of USD 5 million from a round led by Kyra Ventures, and family offices. The Chennai-based multi-specialty hospital chain Medway operates eight facilities with 500 beds in Tamil Nadu and Seemandhra, with each unit having around 50-100 beds.

This investment will help accelerate expansion plans and reach 1,000 beds by 2026, its Chairman Dr T Palaniappan said on Thursday.