Emergency medical services company GMR Solutions said on Tuesday it raised $478.7 million through its U.S. initial public offering after pricing 31.9 million shares at $15 each.
The Lewisville, Texas-based firm, also known as Global Medical Response, achieved an estimated valuation of around $3.35 billion.
GMR Solutions reduced its expectations after initially proposing a share price range of $22 to $25 for the offering.
The recovery in IPO activity has improved market sentiment, encouraging companies to move forward with listings while the market window remains favorable, despite ongoing volatility and geopolitical uncertainty that continue to affect investor confidence.
GMR is a U.S.-based emergency medical services provider that offers air and ground ambulance transportation, mobile healthcare, and disaster response services across urban and rural communities nationwide.
The company, which completed a $5.4 billion refinancing in 2025, currently operates in nearly 1,400 counties across the United States.
In 2015, investment firm KKR acquired the business from Bain Capital in a deal valued at approximately $2 billion.
The New York-based firm later merged Air Medical with American Medical Response in 2018 after acquiring the business from Envision Healthcare for $2.4 billion, creating 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.
