(Bloomberg) -- KKR & Co. is exploring a possible sale of its stake in Metro Pacific Health, the biggest private hospital operator in the Philippines, according to people with knowledge of the matter.

The private equity firm is seeking financial advisers to help prepare a potential sale of its stake in the health-care services provider, the people said, asking not to be identified because the deliberations are private. New York-listed KKR could seek a valuation of at least $3 billion for the company, the people said.

The stake could draw interest from other buyout firms and industry players, one of the people said. Deliberations are ongoing and KKR could decide to keep its holding for longer, the people said.

A representative for KKR declined to comment. 

A KKR-led consortium including Singaporean sovereign wealth fund GIC Pte bought into what was then Metro Pacific Hospitals in 2019 at a valuation of $1.6 billion. It was renamed Metro Pacific Health in 2022.   

Read More: GIC-Backed Philippine Hospital Mulls Reviving $1 Billion IPO 

Metro Pacific Health President Augusto Palisoc told Bloomberg News he wasn’t aware of any sale plan by KKR and declined to comment directly on the matter. The company’s management continues to “focus on growing our network and our business, and becoming more efficient, so we can continue to deliver quality and affordable health care,” he wrote in a text message. 

Read More: Metro Pacific to Double Hospitals in Eight Years, President Says

Metro Pacific Health has 23 hospitals around the Philippines, 26 outpatient facilities and six cancer care centers, as well as health colleges and a laboratory, according to its website. The company’s parent is Metro Pacific Investments Corp., which Bloomberg reported this week is considering combining its toll road business with San Miguel Corp.’s. 

--With assistance from Dong Cao and Cliff Venzon.

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