Alliance Healthcare Services Inc., an Irvine-based provider of radiology centers, may be sold by its owner, China’s Tahoe Investment Group Co., according to Bloomberg News.

The sale of the firm could generate $300 million to $400 million, Bloomberg said, citing unidentified people with knowledge of the matter. Alliance, which has 2,500 employees, operates more than 600 diagnostic radiology, radiation therapy and interventional radiology systems.

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Tahoe Investment is the major shareholder in Chinese luxury real estate developer Tahoe Group Co., which became China’s first major residential developer to default on a bond in five years as the coronavirus outbreak brought the housing market to a standstill, Bloomberg said. Tahoe Investment is also considering a sale of its life insurance unit for about $1 billion, the business news agency said.

Tahoe, formerly known as Fujian Thai Hot Investment Co., bought a majority stake in Alliance Healthcare from funds managed by Oaktree Capital in 2016 for about $103 million. A year later, the Chinese firm bought the shares it didn’t own in the health care provider in a $75 million deal to take the company private, Bloomberg said.

In 2016, the last year before it was taken private, it reported $506 million in revenue.