SINGAPORE, Nov 14 (Reuters) - Temasek Holdings is considering selling Advanced MedTech, multiple sources told Reuters on Monday, after the medical devices firm, fully-owned by the Singaporean state investor, received interest from suitors including buyout funds.
Two investment banks have been tapped to launch a sale process for Singapore-headquartered MedTech, which could be valued at roughly $1 billion, two of the sources said.
All the sources declined to be named as news of the sale process has not been made public.
A Temasek spokesperson declined comment, while there was no immediate comment from an external spokesperson for Advanced MedTech.
Advanced MedTech, which earns the majority of its business from the United States, is one of the few companies that is fully-owned by Temasek, which ranks among the world's biggest investors.
The sources expect private equity firms, healthcare-focused funds and strategic investors to put in bids for Advanced MedTech.
"It's not often that you see a company fully owned by Temasek coming to the market," said one source familiar with the deal process, adding that Advanced MedTech was likely to be viewed as a turnaround story.