Bupa has invited four companies to bid for its £1.2bn private hospital portfolio.

Citigroup, recently hired to sell the private healthcare group's portfolio of 26 hospitals, sent out sale documents last week to Blackstone, Cinven, CVC and another unidentified bidder, according to the Independent.

The decision to limit the bidders is understood to have been taken in the hope of a quick deal.

The sale would be just the latest in a series of deals done to capitalise on healthcare costs that are rising with the ageing population. Bupa's property assets are also a key attraction.

Sector sources speculated, however, that the hospital sale could kindle interest in the entire group. The entire group could be valued at more than £5bn.

The Independent said that a Bupa spokesman denied that the company had any plans beyond the hospitals sale.

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