CareCentrix Inc, a U.S. benefits manager majority owned by private equity firm Summit Partners, is exploring a sale that could value it at around $1 billion, including debt, people familiar with the matter said on Friday.

The Hartford, Connecticut-based company is working with investment banks UBS Group AG (UBSG.S) and Allen & Co on the sale process, the sources said, cautioning that discussions were still in the early stages and there is no guarantee they will result in a deal.

The sources asked not to be identified because the deliberations are confidential. CareCentrix, Summit Partners and Allen & Co did not immediately respond to requests for comment. UBS declined to comment.

READ FULL ARTICLE HERE