MINDRAY Medical International Ltd. has become the latest Chinese company to delist from an American exchange after completing a US$1.9 billion privatization deal as a record wave of buyouts continues this year.

    The Shenzhen-based medical device maker has merged with Solid Union Ltd., a unit of Excelsior Union Ltd., based an offering price of US$28 per American depositary receipts (ADRs), according to a statement Friday.

    The ADRs closed at US$27.94 Thursday, the last trading day. The company first received a non-binding offer of US$30 per ADR from the management to take the company private in June.

    While 42 Chinese companies have received a record US$39 billion offers to delist from U.S. exchanges since the beginning of 2015, only seven have completed the process. Some investors have complained the offering prices are too low, benefiting the management teams involved in the buyouts to the detriment of equity owners.

    Mindray, which sells products from life-support devices to medical imaging systems globally, debuted in the United States in September 2006 and its stock price reached a record US$42.45 in 2013. It has slumped 34 percent since then. (SD-Agencies)