Odell and his wife own a third of the shares in a company that sells healthcare services to local government, according to Swedish Radio.
When he took over as minister Odell resigned from the board of the company, which is part of a healthcare conglomerate with a turnover of around 90 million kronor.
Legal experts at the department of finance are now looking into whether it is possible for Odell to combine his involvement in the company with his ministerial post.