Grindr Agrees to Buy HIV-Prevention Provider Freddie for $250 Million

Grindr has agreed to acquire PurposeMed, the company behind HIV-prevention provider Freddie, for $250 million. It is Grindr’s first major acquisition.

The deal includes $190 million in cash and $60 million in stock. Another $70 million could follow if the business meets 2027 performance targets. Closing is expected in Q4 2026.

Freddie provides access to PrEP, medication that helps prevent HIV. Founded in Canada in 2020, it has helped more than 55,000 patients across Canada and the US. It expects revenue above $80 million and adjusted EBITDA above $10 million this year.

Grindr plans to combine Freddie with its existing medication service, Woodwork, under Grindr Health. Users will be able to consult clinicians, arrange testing, receive prescriptions and manage medication deliveries through the app.

The acquisition gives Grindr a healthcare business alongside subscriptions and advertising. Freddie’s leadership team will join Grindr. The company will outline its 2027 plans during its November earnings call.