Grindr has announced plans to acquire PurposeMed, the Calgary-born parent company of HIV prevention telehealth platform Freddie, for $250 million USD in cash and stock. The transaction is expected to close in the fourth quarter of 2026.

Founded in Calgary in 2020, Freddie has grown into what it describes as the top-rated online PrEP clinic in North America, serving more than 55,000 patients across Canada and all 50 US states. The company provides telehealth services, testing, pharmacy operations, and patient support focused on HIV prevention through PrEP, a medication that reduces the risk of HIV by approximately 99 per cent.

Under the terms of the deal, Grindr will pay $190 million USD in cash and $60 million in Grindr common stock, with up to an additional $70 million in cash tied to Freddie's 2027 performance targets. Freddie expects to generate more than $80 million in revenue in 2026.

"We built Freddie to make HIV prevention simple and accessible for everyone who needs it," said Dr. Husein Moloo, co-founder and CEO of PurposeMed and Freddie. "No one reaches the Freddie community like Grindr does. Together we can bring that care to millions more people, inside the app they already use every day."

Grindr says it intends to integrate Freddie into Grindr Health, its health and wellness offering, with a goal of connecting 10 million LGBTQ+ people globally to HIV prevention through the app by 2028. The acquisition marks the dating platform's first major deal since its founding.

Freddie estimates its patients' PrEP use prevents approximately 385 new HIV transmissions annually, saving Canadian and US healthcare systems a combined $270 million to $580 million in future treatment costs each year, according to the company. Freddie's leadership team will continue building the product as part of Grindr.