The Lactation Network (TLN), a Chicago-based network for insurance-covered lactation services, is exploring a sale alongside Moelis, said two sources familiar with the situation.

Privately-held TLN, which generates USD 50m in adjusted EBITDA, is engaging in preliminary conversations with potential suitors, the sources said. A process has not formally launched, they added.

Led by CEO Sarah Kellogg Neff, TLN offers lactation support, breast pump products and lactation consultations through its network of International Board Certified Lactation Consultants (IBCLCs) in all 50 states.

In February, it entered into a partnership with UnitedHealthcare (UHC), in which members of UHC’s Commercial Plans can find and access personalized, clinical lactation care through TLN in 49 states, according to a press release.

TLN and Moelis did not respond to requests for comment.