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The LGBTQ+ dating app has agreed to buy the parent company of Freddie, an HIV-prevention care provider. Grindr will pay US$190 million in cash and US$60 million in the company’s common stock. Grindr may also pay up to US$70 million more if PurposeMed meets certain performance milestones next year. (The Logic)
Talking point: PurposeMed has raised about US$20 million to date, according to PitchBook, including US$12 million in growth financing in March 2025 with backing from True North Fund, Panache Ventures and BDC. The deal is Grindr’s first major acquisition since launching in 2009. It’s part of the company’s efforts to broaden its business beyond dating and into health and wellness for the LGBTQ+ community. Grindr CEO George Arison said the company aims to reduce new HIV infections by using its reach to connect more gay men with Freddie’s medical services, helping them access and stay on the HIV-prevention medication PrEP. The arrangement will help connect Grindr users with testing and prescriptions through Freddie’s partner clinics and arrange medication delivery through the app.
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