Medical Company Heritage Said to Weigh $9 Billion-Plus Sale

Heritage Provider Network Inc. is exploring a potential sale that could value the private medical group at more than $9 billion, according to people familiar with the matter.

HPN, which is controlled by founder and Chief Executive Officer Richard Merkin, is working with advisers to assist in a sales process that could begin as early as next month, said the people, who asked not to be identified because the information isn’t public.

In preparation for a sale, the company is undergoing an audit of its financials and its bankers have been informally fielding interest from potential bidders including private ...