Mumbai, Feb. 9 -- CVC Capital Partners, Advent International, Carlyle and Temasek are among private equity firms evaluating the acquisition of EQT Partners' 40% stake in healthtech firm CitiusTech in a potential deal likely at around $1 billion, three people familiar with the matter said.

Others such as Ontario Teachers' Pension Plan (OTPP) and Blackstone are also evaluating the asset, two of the three people cited above said on the condition of anonymity. The people added that JP Morgan is conducting the sale process.

"While no bids have been placed, the process has been initiated to gauge market interest even as the IT services industry undergoes a challenging time," a third person said, adding that the deal is still in early stages a...