September 30, 2026

Grindr to buy PrEP telehealth clinic Freddie for $250 million

Grindr agreed on September 30, 2026, to buy Freddie, an online clinic for the HIV prevention medicine PrEP, for $250 million plus up to $70 million tied to 2027 results, according to its SEC filing. Freddie operates only in Canada and the US.

Grindr has agreed to buy Freddie, an online clinic for PrEP (pre-exposure prophylaxis, medicine taken to prevent HIV). Strictly, Grindr is buying PurposeMed Inc., Freddie’s parent company, under an agreement signed on September 30, 2026, according to Grindr’s 8-K filing. It announced the deal in a press release the same day, which says the deal is expected to close in the fourth quarter of 2026, subject to closing conditions.

The price is $250 million in cash and stock, according to the 8-K: $190 million in cash and $60 million in Grindr common stock. The stock part is 3,851,684 shares at $15.58 each, with a 12-month lock-up, the filing says. On top of that comes an earnout of up to $70 million in cash, tied to 2027 results and payable in 2028, which puts the total at up to $320 million, according to the same filing.

Freddie was founded in Canada in 2020 and has operated in the US since 2024. According to the press release, it works in five Canadian provinces (Ontario, British Columbia, Alberta, Manitoba and Saskatchewan) and in all 50 US states plus DC. The release describes Freddie as a telehealth platform for the 2SLGBTQ+ community, covering HIV prevention, sexual health and other treatments, and calls it the “#1-rated online PrEP clinic in North America,” which is the company’s own description.

Freddie has served over 55,000 patients in total, according to the press release, and had over 25,000 active patients at the end of September 2026, according to the shareholder letter Grindr filed with the deal. The first figure counts everyone Freddie has treated, the second only current patients. Freddie expects 2026 revenue above $80 million and adjusted EBITDA above $10 million, according to the press release; both are forecasts. Grindr itself is growing. Its revenue was $138 million in the second quarter of 2026, up 33% year over year, with 1.4 million paying users, up 16%, and net income of $18 million, according to its Q2 shareholder letter of August 6, 2026. Compare Match Group’s quarter, where Tinder’s daily active users fell 4%.

Our reading: we found no earlier case of a dating app buying a clinic. If the deal closes, Grindr becomes part of the health care of the users who choose Freddie, and that brings questions about who sees which data. The filings we read say nothing about how Grindr and Freddie will share data. Freddie operates in Canada and the US, according to the press release, and we found nothing that changes for Grindr users in Sweden now.

Source: Grindr to Acquire Freddie, Expanding Access to HIV Prevention for Millions of Users