Grindr Inc. completed its previously announced acquisition of PurposeMed Inc., the parent company of Freddie, a telehealth provider specializing in PrEP and HIV prevention care. The transaction carries an upfront purchase price of approximately $250 million, structured as $190 million in cash and $60 million in Grindr common stock (3,851,684 shares). Sellers are eligible for up to $70 million in additional earnout consideration contingent on 2027 financial performance targets. This move integrates clinical and pharmacy capabilities into Grindr Health, expanding its service offerings beyond social networking. Grindr operates a digital platform connecting gay men globally with nearly 16 million average monthly active users.
