Weigao Said to Explore Sale of $1 Billion US Devices Unit Argon

China’s Shandong Weigao Group Medical Polymer Co. is exploring a potential sale of its US health products business as relations between the world’s two largest economies sour, according to people familiar with the matter.

Weigao Group has hired advisers to help it solicit potential interest in US-based Argon Medical Devices, the people said, asking not to be identified discussing confidential information. A sale could value Argon at more than $1 billion, the people said, adding that the company is expected to garner interest from private equity firms.

There’s no certainty deliberations will result in a sale and Weigao Group ...