Senior Secured Facilities

Documentation Agent | May 2020

Sector: Healthcare

On May 1, 2020, AB Private Credit Investors (AB-PCI) served as Documentation Agent and provided funding for a senior credit facility to back Altaris Capital Partners’ acquisition of Kindeva Drug Delivery. Kindeva is a carve-out of the 3M Drug Delivery Systems division. 3M is a diversified industrials conglomerate operating across multiple sectors, including consumer, telecommunications, security, healthcare and transportation.

Based outside of Saint Paul, Minnesota, Kindeva is a unique contract delivery and manufacturing organization focused on both drugs and their delivery devices, particularly inhalation, including asthma inhalers; transdermal, or patches that deliver drugs through the skin; and other systems. The company’s microneedle-based drug delivery platforms are currently being utilized in dozens of development programs, including programs for COVID-19 vaccines and other difficult-to-deliver therapies. 

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