KKR-Backed Ambulance Firm GMR Shrinks IPO Target to $479 Million

GMR Solutions Inc., an air and ground emergency medical services company that counts KKR & Co. among its backers, revised the terms of its IPO and is seeking to raise $479 million, down from an earlier target of as much as $798 million.

The company, known as Global Medical Response, fixed its initial public offering price at $15 each, according to a filing Tuesday with the US Securities and Exchange Commission. GMR had offered nearly 32 million shares at $22 to $25 apiece.