By Anshuman Daga and Yantoultra Ngui

SINGAPORE (Reuters) – Temasek Holdings is considering selling Advanced MedTech, multiple sources told Reuters on Monday, after the medical devices firm, fully-owned by the Singaporean state investor, received interest from suitors including buyout funds.

Two investment banks have been hired to launch a sale process for Singapore-headquartered MedTech, which could be valued at roughly $1 billion, two of the sources said.

All the sources declined to be named as news of the sale process has not been made public.

A Temasek spokesperson declined comment, while there was no immediate comment from an external spokesperson for Advanced MedTech.

(Reporting by Anshuman Daga and Yantoultra Ngui; Editing by Sumeet Chatterjee and Louise Heavens)