Private equity firm TPG is exploring selling its Singapore-based healthcare company, according to people with knowledge of the matter.

The buyout firm is seeking a valuation of nearly $1 billion for TE Asia Healthcare Partners, the people said, asking not to be identified as the process is private. Investment funds and other hospital operators have shown preliminary interest in the assets, the people said.

Considerations are at an early stage and TPG could still decide against proceeding with the deal, the people said. A representative for TPG declined to comment, while a representative for TE Asia said the company is not in a position to comment on behalf of its majority shareholder.

Apart from TPG, other buyout firms in Southeast Asia are also considering unloading their investments in the healthcare sector. Southern Capital Group Pte. is exploring the sale of its healthcare group Qualitas Health for as much as S$400 million ($300 million), while Quadria Capital is weighing divesting its stake in FV Hospital in Vietnam, Bloomberg News has reported.

TE Asia — co-founded by group chief executive officer Eng Aik Meng and TPG in 2014 — focuses on oncology, cardiology, orthopedics and aesthetics, according to its website. The company operates clinics and hospitals in locations including Singapore, Hong Kong, Malaysia, Thailand and Indonesia.