The Australian listed private health insurer Medibank is believed to be competing with at least one family office for Myhealth Medical, owned by Crescent Capital.
Family offices that have looked at the business include that of the high-profile retailer Gerry Harvey, which has not made up its mind.
Myhealth Medical, founded by Dr James Liang in 2007, is up for sale through advisory firm Rothschild.
It has more than 80 clinics across the three eastern states and is understood to generate between $25m and $30m of annual earnings before interest, tax, depreciation and amortisation.
Myhealth describes itself as the largest shopping centre-based medical operator in Australia, servicing more than 1.2 million patients annually.
It is understood the sales process is now in the second stage and it is anticipated that a sale will be agreed on before Christmas.
Medibank remains keen on the business after recently making its first foray into hospital ownership by acquiring a 49 per cent stake in East Sydney Private Hospital in Woolloomooloo, which was first flagged by DataRoom in July.
The purchase of a stake in the short-stay hospital is part of a move by Medibank to lessen healthcare costs for its customers while reducing their medical insurance expenses and offering a shorter stay for patients.
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