JPMorgan is believed to be in the box seat to assist Ramsay Health Care Limited (ASX:RHC) on a revived plan to sell out of its $800 million plus Asia joint venture Ramsay Sime Darby Health Care Sdn Bhd, according to sources. Ramsay has the joint venture in Asia with Malaysia multinational conglomerate Sime Darby Berhad and includes four hospitals in Malaysia and three in Indonesia. The suitor was granted exclusive due diligence.

But in September, the talks between the pair concluded without a deal. Following the March approach, Ramsay received a $20 billion buyout proposal from Kohlberg Kravis Roberts, but KKR later walked away from the target. Yet others say Ramsay is comfortable with its current debt level following a recent refinancing.

Asian buyers are likely to line up for the business. Ramsay is expected to be a seller, with the business considered non-core and, while the assets are attractive, their value is not being truly reflected in Ramsay's share price.