GMR Solutions, a leading provider of emergency medical services and alternate-site care in the US, lowered the proposed deal size for its upcoming IPO on Tuesday.
The Lewisville, TX-based company now plans to raise $479 million by offering 31.9 million shares at $15. The company had previously filed to offer the same number of shares at a price range of $22 to $25. At the midpoint of the revised range, GMR Solutions will raise 36% less in proceeds than previously anticipated and command a fully diluted market value of $3.8 billion (-31% versus previous terms).
Formed in 2018 through the merger of Air Medical Group Holdings and American Medical Response, GMR Solutions is a provider of emergency medical services and out-of-hospital care in the United States and internationally. The company delivers on-site clinical care through trained medical teams and coordinates patient transport via air and ground ambulance when higher levels of care are required, or directs non-emergent patients to lower-acuity settings. Its operations span a broad network of urban and rural communities, functioning as an entry point into the healthcare system and supporting care delivery across a range of emergency and non-emergency situations.
GMR Solutions was founded in 2018 and booked $5.7 billion in revenue for the 12 months ended December 31, 2025. It plans to list on the NYSE under the symbol GMRS. J.P. Morgan, KKR, BofA Securities, Barclays, Goldman Sachs, Citi, Evercore ISI, Morgan Stanley, and UBS Investment Bank are the joint bookrunners on the deal. It is expected to price the week of May 11, 2026.
