KKR-backed ambulance giant GMR opens in the red in New York debut

GMR Solutions

13/05/2026 19:22

Updates

** Shares of emergency medical services provider GMR Solutions GMRS.N fall as much as 11.9% in New York debut

** Stock opened at $13.50 apiece vs offer price of $15, valuing the firm at $3 billion

** Lewisville, Texas-based GMR sold about 31.9 million shares, well below initial marketed range of $22 to $25 apiece to raise $478.7 million in IPO

** GMR had slashed its IPO price on Tuesday

** Known as Global Medical Response, GMR is a heavyweight in providing essential emergency medical services, with operations spanning roughly 1,400 U.S. counties

** GMR was formed in 2018 by combining investment firm KKR's KKR.N portfolio companies Air Medical and American Medical Response

** J.P. Morgan, KKR Capital Markets and BofA Securities were active bookrunners

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))