CHENNAI: Medway Hospitals secured its first round of institutional equity funding of $5mn. This round was led by Kyra Ventures, and it also saw participation from family offices.

The fast-growing chain of multi-speciality hospitals has 8 hospitals in TN and Seemandhra. Its tertiary care services include critical care and organ transplantation. The chain has around 500 beds across all locations, with each unit having around 50-100 beds.

During 2021, Medway setup a heart institute in Chennai, which is supposedly the only standalone heart institute to have JCI and NABH accreditations in south.

The institute has performed over 1,000 heart surgeries, 3,000 cath lab procedures within two years.

Dr T Palaniappan, chairman, Medway, said this investment will help it reach 1,000 beds by 2026.