Grindr to acquire telehealth PrEP provider Freddie parent PurposeMed for $250 million
GRND•Grindr will acquire PurposeMed for $250 million in cash and stock, with up to $70 million in additional cash tied to 2027 targets. The deal is expected to close in the fourth quarter of 2026.
1. Deal terms and services
Grindr will pay $190 million in cash and $60 million in Grindr common stock to acquire PurposeMed, the parent of telehealth HIV-prevention provider Freddie. The agreement includes up to $70 million in additional cash tied to 2027 targets. Grindr plans to integrate PrEP access, testing and prescriptions into its app through Grindr Health.
2. Freddie's reach and outlook
Freddie serves patients in all 50 U.S. states and has supported more than 55,000 patients in Canada and the United States. It expects 2026 revenue above $80 million and adjusted EBITDA of more than $10 million.
