Jadwa, which has a 42% holding, is considering a sale of the stake either through an outright sale or an initial public offering (IPO), said the sources, declining to be identified as the matter is not public.
The business is said to be worth around $800 million, they said.
United Eastern Medical Services (UEMedical) is specialised in women's, fertility and children's healthcare and has a network of premium health centres across Abu Dhabi, according to its website.
Jadwa acquired a stake in UEMedical in 2016 through its Healthcare Opportunities Fund 2, information on Jadwa's website shows.
HSBC declined to comment. Jadwa and UEMedical did not immediately respond to requests for comment.
Transactions in the healthcare sector have picked up this year, with Saudi Arabia's Dr. Sulaiman Al-Habib Medical Services Group going public and Almana General Hospitals in early talks with banks about an IPO on the kingdom's Tadawul exchange, Reuters reported in July.
(Reporting by Hadeel Al Sayegh; editing by Jason Neely)
By Hadeel Al Sayegh and Saeed Azhar