The PE firm made the investment just three years ago.
Private-equity firm The Blackstone Group is planning to sell its majority stake in a Chinese maker of medical devices, according to people familiar with the situation, as it tries to exit an investment made just three years ago.
The New York-Based has hired Morgan Stanley to work on a saleof its ownership in Xinrong Best Medical Instruments Co. Ltd., the people said. The process is expected to launch in early 2018 and could fetch around $400 million for Blackstone, one of the people added.
