Grindr acquires PurposeMed for $250M in telehealth push

Grindr is acquiring PurposeMed, parent of HIV prevention telehealth provider Freddie, for $250 million — $190 million in cash and $60 million in stock, plus up to $70 million tied to 2027 performance. The deal, Grindr's first major acquisition since 2009, is expected to close in the fourth quarter.

• Deal valued at $250M: $190M cash plus $60M in Grindr stock
• Up to $70M extra cash tied to Freddie's 2027 performance
• Freddie has served over 55,000 patients in the US and Canada
• Grindr expects over $400 in monthly revenue per active patient