GMR Solutions

Last updated: May 20, 2026
Ticker
GMRS
Exchange
NYSE
IPO Date
Pending
Price Range
$15.00 - $15.00
Deal Size
$479 million
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Company Snapshot

GMR Solutions is a leading provider of emergent and non-emergent medical services, specializing in both ground and air ambulance transportation. The company operates a vast fleet of approximately 7,400 ground ambulances and 513 air ambulances, serving a diverse range of clients across the United States. Their business model focuses on fee-for-service revenue, with a strong emphasis on innovation and operational efficiency to enhance patient care and reduce costs.

Key Investors
KKR Funds (75.5%)

Per S-1 disclosure; % may not sum to 100% when ownership is nested, multi-class, or reported on different bases.

Key Metrics
The company serves over 2,500 patients per week and has access to over 19 million covered lives through its Nurse Navigation clinical protocol.

Key Financials

Metric202520242023
Revenue$5.7B$6.0B$5.4B
YoY Growth-5.0%+11.1%-
Adjusted Net Income$206M$20M-$203M
Margin %3.6%0.3%-3.8%

Balance Sheet

Cash & Equivalents
$609M
Total Debt
$5.0B

Implied Valuation at Midpoint

Market Cap
$3.0B
P/S Ratio
0.5x
P/E Ratio
14.6x

Based on price range midpoint and most recent fiscal year data.

S-1 Highlights

Market & Competition

The company operates in the emergency medical services (EMS) industry, competing with major players such as AMR and Acadian Ambulance. GMR Solutions is recognized as one of the largest integrated providers of essential alternate-site, out-of-hospital care in the United States.

Use of Proceeds

Proceeds from the IPO will be utilized to strengthen GMR Solutions' operational capabilities and support strategic growth initiatives. The company aims to enhance its service offerings and expand its market presence.

Key Risk Factors

  • GMR Solutions faces significant competition in the EMS market, which may impact its ability to maintain market share and profitability.
  • The company has substantial indebtedness, which could affect its financial flexibility and ability to invest in growth opportunities.

Deal Structure

Primary Shares
31,914,893 shares
Shares Outstanding
200,223,833 shares
Post-IPO Float
15.9%
Lock-up
No Lock-up Agreement
Lead Underwriters
J.P. Morgan, KKR, BofA Securities, Barclays, Goldman Sachs & Co. LLC, Citigroup, Evercore ISI, Morgan Stanley, UBS Investment Bank, Capital One Securities, Loop Capital Markets, Regions Securities LLC, Strong Capital Markets

Reported Broker Availability

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Reported by users or publicly disclosed. Information is for reference only.

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