Freddie (PurposeMed Inc.)

Telehealth · HIV Prevention · LGBTQ

Acquisition

Grindr acquires HIV prevention telehealth provider Freddie for $250M

The deal folds prescription care into an app users already open for an hour a day, turning dating into a healthcare distribution channel.

• Grindr agreed to acquire PurposeMed Inc., parent of HIV-prevention telehealth brand Freddie, for $250M in cash and stock ($190M cash, $60M stock), with up to $70M more in earnouts tied to 2027 performance; the deal is expected to close in Q4 2026.
• Freddie, founded in Canada in 2020, delivers PrEP prescriptions, testing and home drug delivery via telehealth and now serves more than 55,000 patients across Canada and all 50 U.S. states.
• Freddie is projected to generate more than $80M in 2026 revenue and over $10M in adjusted EBITDA, while Grindr says the acquisition will have an immaterial impact on its own 2026 financials.
• About 650,000 people in the U.S. are on PrEP today versus an estimated 2.2 million who could benefit, even though the drug cuts HIV risk by roughly 99%.
• Freddie will be merged with Woodwork, the telehealth service Grindr launched in 2025, into a single Grindr Health experience inside the app.
• The deal signals Grindr's bet that its built-in audience of PrEP-eligible users can turn healthcare distribution into a business as large and profitable as its core dating app.