KKR-backed Global Medical Response has appointed banks for a potential US initial public offering that could raise around $1bn, according to sources cited by Bloomberg.

The emergency medical services provider has selected JPMorgan Chase and Bank of America to work alongside KKR’s capital markets desk. Barclays and Goldman Sachs are also advising on the offering.

The IPO would mark a key monetisation step for KKR, which built the platform through a series of acquisitions. The firm acquired Air Medical Group Holdings for $2.09bn in 2015 and subsequently purchased American Medical Response for $2.4bn in 2017.

Based in Texas, Global Medical Response provides air and ground emergency services, delivering care to more than 5.5m patients annually and covering over 62% of the US population. The company completed a $5.4bn refinancing last year.

The proposed $1bn listing comes amid expectations that private equity-backed companies will accelerate US IPO activity in 2026 after several muted years.

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