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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.

CareCentrix partners with healthcare payers to administer their benefits programs for patients who need post-acute care, which can range from treatment in skilled nursing facilities to home healthcare.

It has 12-month earnings before interest, taxes, depreciation and amortization of more than $90 million, the sources said.

The company is poised to benefit from the rapidly aging U.S. population, which increased demand for post-acute care and increases enrollment in Medicare Advantage programs.

Meanwhile, large health insurers are finally on the lookout for new deals after regulators shot down two planned health insurance mega-mergers earlier this year.

Indianapolis-based health insurer Anthem (ANTM.N) acquired Medicare Advantage health plan provider HealthSun earlier this month for an undisclosed sum. HealthSun was also owned by a consortium lead by Summit Partners.

The same month, health insurer Centene Corp (CNC.N) acquired non-profit insurer Fidelis Care for $3.75 billion.

Reuters previously reported that benefits manager eviCore is exploring a sale that could potentially value it at more than $4 billion.

Earlier this year, Humana said it plans to intensify its focus on its Medicare Advantage business and add to its healthcare services platform, including in home health.