May 12 (Reuters) - Emergency medical services provider GMR Solutions has raised $478.7 million in its U.S. initial public offering, the company said on Tuesday, after selling 31.9 million shares at $15 apiece.
The Lewisville, Texas-based company, known as Global Medical Response, has secured a valuation of roughly $3.35 billion.
GMR Solutions had lowered its expectations after initially targeting up to $797.9 million through a proposed price range of $22 to $25 apiece.
The rebound in IPO activity has
boosted market sentiment, prompting companies to accelerate listings while the market window remains open, even as persistent volatility and geopolitical uncertainty continue to weigh on investor appetite.
GMR is a U.S.-based emergency medical services provider offering air and ground ambulance transport, mobile healthcare and disaster response services, with operations spanning urban and rural communities nationwide.
The company, which completed a $5.4 billion refinancing in 2025, operates across 1,400 U.S. counties.
In 2015, investment firm KKR acquired air ambulance provider Air Medical from Bain Capital in a roughly $2 billion deal.
The New York-based firm later combined Air Medical with American Medical Response in 2018, after acquiring the company from Envision Healthcare for $2.4 billion, to form Global Medical Response.
GMR is expected to begin trading on the New York Stock Exchange on Wednesday under the symbol "GMRS", with J.P. Morgan, KKR and BofA Securities among the underwriters on the offering.
(Reporting by Prakhar Srivastava in Bengaluru and Carlos Méndez in México City; Editing by Shailesh Kuber and Sherry Jacob-Phillips)
