Abano Healthcare has received an unsolicited offer for a 50 percent stake in its audiology business, Bay International Limited.
Abano Healthcare owns half of Bay International which owns Bay Audio - an audiology retail network in Australia and South East Asia.
The company said the $30 million offer from an international hearing device manufacturer was considerably above the current book value of $11.9m.
Chief executive of Abano Richard Keys said it was seriously considering it.
"We'll proceed with further discussions with them and we have initiated a divestment process with regards to our shareholding," he said.
Mr Keys said he expected that process to take three to four months.