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00:02Grindr is expanding further into healthcare with a $250 million acquisition of PurposeMed,
00:08the parent company of HIV prevention telehealth provider Freddy, according to CNBC. The deal
00:13includes $190 million in cash and $60 million in Grindr stock, with up to $70 million in additional
00:21cash tied to Freddy's 2027 performance. Grindr expects the acquisition to close in the fourth
00:26quarter. The company plans to integrate Freddy's telehealth, testing, prescription, and medication
00:31delivery services into its platform. Grindr is expanding its LGBTQ healthcare platform woodwork
00:37into a larger revenue source alongside its subscription and advertising businesses.
00:42CEO George Arison said the healthcare business could eventually become as large as Grindr's
00:47core business. Grindr estimates a U.S. operation with 50,000 patients could generate roughly $240
00:53million in annual revenue. For all things money, visit Benzinga.com.
