Danish medical device maker Coloplast on Tuesday said it is conducting an “unconditional strategic review” of its urology division.

The announcement came after Bloomberg on Tuesday reported, citing unnamed sources, that Coloplast is considering a sale of the unit for a price above $1 billion and had hired advisers.

Coloplast said it would provide further information as it becomes available.

The company is the world’s fourth-largest manufacturer of interventional urology products with a market share of about 15%, according to its annual report.