EBOS Group Limited (NZSE:EBO) seems to be moving on quickly from its $4 billion courtship of Greencross Limited, with talk that it is eyeing Paragon Care Limited (ASX:PGC). While small, with just a $113.5 million market value, Paragon Care operates in the areas of specialty diagnostics and devices under brands such as Designs for Vision, Electro Medical Group, Specialist Medical Supplies and Immulab. Apparently, there's a large Asian private equity firm also interested in buying the business right now.

However, should there be interest in Paragon it is likely to be early days, with sources close to the company saying it has not received approaches. Sources say the group has been yet to prove to the market it can deliver on its mergers and acquisition strategy. Other parties that have looked at Paragon in the past are Navis Capital, which now owns Device Technologies.