Hillhouse Investment is nearing a purchase of a significant minority stake in Hong Kong-listed Modern Dental Group Ltd, according to people familiar with the matter.

The alternative asset manager is poised to take a holding of about 17 percent in Modern Dental, the people said, asking not to be identified because the information is private. The transaction may be disclosed as soon as Friday, the people said.

Modern Dental has a market value of about $620 million — its shares have dropped 3 percent this year but they’re still up 26 percent over the past 12 months. Hillhouse already holds a small stake — less than 1 percent — in the company.

The Hong Kong-based company provides dental prosthetics, distribution and consultancy services on the Chinese mainland, Europe, North America, Australia and Southeast Asia, according to its website. Products include crowns and bridges, removable dentures, clear aligners, sports guards and anti-snoring devices.

A representative for Hillhouse declined to comment, while Modern Dental didn’t immediately respond to a request for comment.

Hillhouse’s healthcare investments include BeOne Medicines Ltd, InnoCare Pharma Ltd and Microport Scientific Corp. It has invested in dental companies such as Neoss, Purgo Biologics, uLab Systems, DeepCare and Alliedstar.