18 January 2024
Greetings,
We are thrilled to share the joyous news that Medway Hospitals, the Chennai-based multi-speciality hospital chain, has secured a significant $5 million investment in its inaugural funding round. This momentous achievement has been possible through the invaluable support of Kyra Ventures, with additional participation from esteemed family offices.
Medway Hospitals, under the visionary leadership of Dr. T. Palaniappan, operates eight state-of-the-art facilities in Tamil Nadu and Andhra Pradesh. As a unit, they are dedicated to providing outstanding healthcare services, primarily in tier-2 cities, emphasizing superior quality with a patient-centric approach.
This noteworthy investment is a testament to the dedication and vision of our team. Dr. T. Palaniappan, Chairman of Medway Group, expressed his gratitude, stating, "Our focus has always been providing quality healthcare in tier 2 cities and having centers of excellence in key cities."
The infusion of $5 million, coupled with the support from Kyra Ventures and family offices, will significantly propel Medway Hospitals' expansion plans. Our goal is to expand our services and facilities to reach a remarkable milestone of 1000 beds by the year 2026.
Dr. T. Palaniappan emphasized, "The promoters of Medway are committed to closing the healthcare gap in underserved areas by creating access to affordable, patient-centric clinical excellence."
We extend our heartfelt gratitude to Kyra Ventures for their belief in our mission and to the family offices for their valuable participation. Hari Prasad, Partner at Kyra Ventures, aptly captured our mission by stating, "The promoters (of Medway) are committed to closing the healthcare gap in underserved areas by creating access to affordable, patient-centric clinical excellence."
Nova Capital Advisors played a pivotal role as advisors to this momentous transaction, contributing their expertise to ensure its success.
As we embark on this exciting phase of growth, we express our sincere appreciation to all stakeholders, patients, and our dedicated team. Together, we strive to redefine healthcare standards, leaving an indelible mark on the communities we serve.
With honor and gratitude,
Dr. T. Palaniappan
Chairman, Medway Group of Hospitals