KKR-Backed GMR Solutions Could See Market Cap Top $5 Billion in IPO
By Colin Kellaher
GMR Solutions unveiled plans for an initial public offering that could give the emergency-medical-services provider backed by private-equity firm KKR an initial market capitalization topping $5 billion.
GMR, also known as Global Medical Response, on Monday said it plans to sell more than 31.9 million shares at between $22 and $25 each in the IPO.
At the $23.50 midpoint of that range, the Lewisville, Texas, company said it expects net proceeds of about $669.2 million, or around $775.5 million if the underwriters exercise an option to buy an additional 4.79 million shares.
GMR said it would have about 205 million shares outstanding after the IPO, assuming an exercise of the overallotment option, for a market capitalization exceeding $5.1 billion at the $25-a-share pricing high end.
KKR formed GMR in 2018 by acquiring ground ambulance provider American Medical Response and merging it with air-ambulance provider Air Medical Group Holdings, which it bought in 2015.
The New York firm currently owns about 89% of GMR and will still hold at least 77% of the company's voting power after the IPO.
GMR said it has applied to list its shares on the New York Stock Exchange under the symbol GMRS.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
May 04, 2026 10:32 ET (14:32 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
4 Growth Stocks to Buy While They’re Still Undervalued
3 of the Best Core Stocks to Own
3 Great New ETFs From 2026
Retirees: 5 Reasons to Consider Index Funds and ETFs
United States