Grindr to acquire HIV telehealth provider Freddie's parent for $250 million

Grindr (GRND) agreed to acquire PurposeMed Inc., parent of HIV prevention telehealth provider Freddie, for $250 million in cash and stock, the company said on October 1, 2026 — its first major acquisition since its 2009 founding. Terms call for $190 million in cash and $60 million in Grindr common stock, plus an earnout of up to $70 million in cash tied to Freddie's 2027 performance targets and payable in 2028. The deal is expected to close in the fourth quarter of 2026. Freddie, founded in Canada in 2020, provides PrEP, testing, prescriptions and home drug delivery, and has served more than 55,000 patients across all 50 states and Washington, D.C. Freddie projects over $80 million in 2026 revenue and more than $10 million in adjusted EBITDA. Grindr expects an immaterial impact on 2026 results, immediate EBITDA accretion, and near-term margin pressure from U.S. expansion.