A Forfar-based care company could take over some of the homes run by financially struggling Southern Cross.
Tony Banks, millionaire chief of Balhousie Care Group, has been involved in negotiations.
Southern Cross, which is looking to stave off collapse, operates several homes in Tayside 12 in the Perth and Kinross area, five in Angus and two in Dundee.
A spokesman for Mr Banks confirmed he had been in talks with a view to taking over some of the homes in the group struggling to pay rent to its landlords.
Southern Cross made losses of £311 million in the six months to March 31 and announced it would cut rent payments to its landlords over the summer.
At the latest meeting between Southern Cross, its lenders and the Southern Cross landlords committee there was agreement to work towards “a consensual solution to the company’s current financial problems.”
A restructuring committee will oversee the process.
The firm has insisted the quality of care to its 31,000 residents across the UK will be maintained and there will be continuity of care.
The spokesman for Mr Banks said he estimated around half of the 752 homes operated by Southern Cross would switch to alternative operators.
Many homes needed capital expenditure and that would have to be reflected in any leases negotiated with alternative operators.