Grindr to acquire PurposeMed for up to $320 million

Grindr has agreed to acquire PurposeMed, the parent company of the telehealth provider Freddie, for an initial $250 million in cash and stock. The total value of the deal could reach $320 million if specific performance targets are met by 2027.

The acquisition marks Grindr’s first major move to establish “Grindr Health,” a dedicated healthcare business. The initiative will focus on expanding access to HIV pre-exposure prophylaxis (PrEP), testing, and medication delivery by integrating Freddie’s clinical and pharmacy infrastructure into the Grindr app.

Freddie, which was founded in Canada, currently serves patients across all 50 U.S. states. Grindr aims to leverage its large user base to meet a global goal of connecting 10 million LGBTQ+ individuals with HIV prevention services by 2028. The transaction has been approved by both companies' boards and is expected to close in the fourth quarter of 2026.