Calgary-based PurposeMed, the company behind HIV-prevention platform Freddie, is being acquired by Grindr for US$250 million. The deal includes US$190 million in cash and US$60 million in stock, with up to US$70 million more tied to 2027 performance targets. Founded in 2019, PurposeMed combines virtual consultations, clinical care, and pharmacy services for underserved communities.
Grindr plans to expand Freddie’s U.S. business and combine it with its Woodwork telehealth offering under Grindr Health. The transaction would give PurposeMed access to Grindr’s roughly 15 million monthly active users, significantly expanding the potential audience for its healthcare services across North America and beyond.
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