KKR-Backed GMR Solutions Seeks $1 Billion IPO

GMR Solutions Inc., backed by KKR & Co., has initiated proceedings for a US initial public offering, intending to raise approximately $1 billion. The company's shares are slated to trade on the New York Stock Exchange under the ticker symbol GMRS.

Operating as Global Medical Response, the Lewisville, Texas-based entity demonstrated significant financial growth in 2025, posting a net income of $206.2 million on revenues of $5.74 billion. This marks a considerable improvement from the previous year's net income of $20.4 million on $5.98 billion in revenue.

As the largest provider of emergency medical services in the United States, GMR Solutions' operations extend across approximately 1,400 counties, encompassing over 60% of the nation's population. The company serves around 5.5 million patients annually with a workforce exceeding 24,000 clinicians.

Funds affiliated with major investors, including KKR, Ares Management Corp., and Blackrock Inc.'s HPS, are anticipated to participate in a concurrent deal by purchasing private placement warrants at the IPO price. KKR, Koch Inc., and entities linked to HPS are significant shareholders, each holding over 5% stakes. Post-IPO, KKR will retain the majority of shareholder voting power.