Morgan Stanley Private Equity Asia has kicked off the sale process of Taiwanese medical diagnostic equipment maker Microlife, five sources familiar with the situation said.

BDA Partners remains the financial advisor, the sources noted. The sellside may collect initial bids in mid-September, the first source said.

The PE owner has distributed information memorandums (IMs) to a selected group of potential buyers, three sources said.

Microlife generated an EBITDA of around USD 30m in 2023, the second source added.

Morgan Stanley Private Equity Asia was mulling relaunching the sale of Microlife in 2024, according to Mergermarket’s report in August 2024.

It received interest from private equity buyers last year, but the sale process didn’t go through due to unmatched valuation expectations, the second and fourth sources said.

Microlife was taken private by Mande Investment for a deal value of TWD 9.3bn (USD 325.3m). Mande Investment was owned by Morgan Stanley Private Equity Asia, overseas investors, and Taiwanese groups, according to Mergermarket’s database.

Founded in 1981, Microlife specializes in the development and manufacturing of medical diagnostic equipment for home monitoring and professional use. Its products include blood pressure monitors, blood glucose monitoring systems, digital thermometers, respiratory care devices, and others, as per its website.

Morgan Stanley Private Equity Asia, Microlife, and BDA didn’t respond to requests for comment.