Grindr Acquires PurposeMed For $250 Million Expanding Telehealth Services

Grindr is acquiring PurposeMed, the parent company of HIV prevention telehealth provider Freddie, for $250 million, comprising $190 million in cash and $60 million in Grindr common stock, with up to $70 million in additional performance-based cash consideration. The deal, expected to close in Q4, expands Grindr’s Woodwork telehealth platform and gives it access to Freddie’s more than 55,000 patients across the U.S. and Canada, while CEO George Arison said the acquisition could establish a healthcare business comparable in size and profitability to Grindr’s core business. SALE PRICE: $250,000,000 HQ: West Hollywood, California #VentureCapital #Grindr #PurposeMed #TradedVC