Baring eyes $1B valuation for CitiusTech in blank-check company deal – Bloomberg

Baring Private Equity Asia is weighing a U.S. listing for CitiusTech Healthcare Technology Pvt. Ltd. via a business combination with a blank-check company, with a view to seeking a roughly $1 billion valuation for the healthcare technology service provider, Bloomberg News reported, citing people familiar with the matter.

The Hong Kong-based private equity firm tapped advisers to assist with a possible transaction, the sources told the news outlet.

Baring, which reportedly acquired a majority stake in CitiusTech for about $750 million in 2019, could still opt to retain the business.

A Baring representative declined to comment on the matter, according to Bloomberg.