Panasonic (PC) Looks to Offer Stake in Healthcare Unit

Japan consumer electronics giant Panasonic (NYSE: PC) might be looking to divest a portion of its healthcare unit, netting a tidy sum in the process.

According to reports Tuesday, Panasonic has tapped Morgan Stanley to advise on the sale, which could raise over $1 billion. Information about the asset will be passed along to bidders starting in May.

Firms potentially in the bidding process might include notable private equity names like Bain Capital and Carlyle Group.

It wasn't made clear how large a portion will be offered, though one Panasonic exec commented last month that the company is looking for a partner with medical knowledge and skills and capital for future growth" to make an investment. Analysts had been expecting an outright sale of the unit up until recent.

Shares are flat in early trading Tuesday.

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