Coloplast A/S confirmed that it is conducting an unconditional strategic review of its interventional urology unit following a report that it was considering selling the business.

The Danish healthcare supplies company has hired advisers to consider a sale of the business for over $1 billion, according to some news reports.

The company said it will provide further information when it becomes available.

Coloplast's interventional urology business generated 967 million Danish kroner in revenue for the first six months of fiscal 2019, accounting for over 11% of Coloplast's sales for the period.

Coloplast develops intimate healthcare products, such as wound dressings and body waste collection devices.

As of June 4, US$1 was equivalent to 6.64 Danish kroner.