(Bloomberg) -- EQT AB and KKR & Co. are among several buyout firms weighing bids for German health-care technology provider Stratec SE, according to people familiar with the matter. 

CVC Capital Partners and Permira are also exploring offers, the people said, asking not to be identified discussing confidential information. The private equity firms have expressed preliminary interest in a stake being sold by Stratec’s founder Hermann Leistner and his family, the people said.

A move for Leistner’s 40.55% holding could trigger a bid for all of Frankfurt-listed Stratec, which has a market value of 1.2 billion euros ($1.4 billion). Bloomberg News reported in February that Leistner was exploring options for the company.

Deliberations are ongoing and there’s no certainty any of the private equity firms will decide to proceed with formal offers, according to the people. Representatives for EQT, KKR, Permira and Stratec declined to comment, while a spokesperson for CVC didn’t immediately provide comment.

Based in Birkenfeld, Germany, Stratec employs about 1,400 people and produces machinery to automate in-vitro testing in laboratories, including for coronaviruses. The company saw earnings for the first nine months of 2021 rise 61% to 58 million euros.

While Stratec shares surged during the coronavirus pandemic, global vaccination programs and the development of possible therapeutic treatments is curbing the need for testing. Stratec shares remain down about 12% over the last 12 months.

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