Pathlab, as the company is known, is working with an adviser on the potential divestment, the people said. While the sale process hasn’t formally started, some buyout firms and hospital operators have expressed initial interest, said the people, who asked not to be identified as the information is private.

Deliberations are ongoing and there is no guarantee that Pathlab will proceed with a deal, the people said.

Pathlab receives various enquiries and proposals from interested parties from time to time, CEO Marcus Kam said in response to a Bloomberg News query. Kam declined to comment further.

Pathlab, which offers health screenings, blood tests and runs medical laboratories, has more than 70 branches in Malaysia, Singapore, Thailand, Indonesia, Hong Kong and Cambodia, according to its website.

The company aims to be the largest private healthcare and medical testing group in Asia, the website said.