Abhay Soi-led Radiant Life Care Private Limited is in preliminary discussions to buy a strategic stake in Max Healthcare Institute Limited as Life Healthcare Group Holdings Limited (JSE:LHC) considers a sale of its stake, several people with knowledge of the matter said. s looking to exit its six-year-old investment in Max, considered a non-core bet away from its home market. The company is said to have roped in Barclays Plc to explore interest in the holding.

Life Healthcare and Max India Limited (BSE:539981) each own 49.7% of Max Healthcare. Discussions are at an early stage and there is no guarantee they will lead to a deal, said the people cited above. “A formal sale process has been initiated as Life is keen to monetise its investment,” said an executive involved in talks.

“Discussions and management meetings have taken place between both sides. But this will be a long-drawn process. Analjit Singh has to give his consent to any new partner.”