Grindr Inc. has agreed to acquire PurposeMed Inc., the parent company of telehealth PrEP provider Freddie, for $250 million in cash and stock. The deal consists of $190 million in cash and $60 million in Grindr common stock, with up to an additional $70 million in cash consideration tied to 2027 performance targets and payable in 2028. The transaction, Grindr's first major acquisition since its founding, has been approved by both boards and is expected to close in Q4 2026. Freddie expects to generate 2026 revenue of more than $80 million and more than $10 million in Adjusted EBITDA, and Grindr said the acquisition will have an immaterial impact on its 2026 financial results. Freddie, founded in Canada in 2020, has helped more than 55,000 patients in Canada and the United States access PrEP and now serves patients in all 50 US states. Grindr said the acquisition advances its commitment to connect 10 million LGBTQ+ people globally to HIV prevention directly through the app by 2028.
Grindr IncGrindr agreed to acquire PurposeMed/Freddie for $250M in cash and stock, its first major acquisition.
Compal Electronics IncPurposeMed, parent of Freddie, is being acquired by Grindr for $250M plus up to $70M in performance-based cash.
