US buyout firm Bain Capital is lining up an 80% stake in the UK government-owned blood plasma supplier Plasma Resources UK for £230 million, according to a source familiar with the situation, marking Bain's latest acquisition of a state-owned firm.

The Department of Health put the plasma products group up for sale in January following a review last summer, when the government decided that it was unable to provide the required additional investment that the company required, said the person. The government will retain a 20% stake in Plasma Resources UK as part of the deal.