WEST VANCOUVER — Mark Sager, the current Mayor of West Vancouver, has filed a lawsuit claiming he is owed over $1 million for work he did in helping the American health-tech company, Masimo Corp., locate a site for a research and development facility. The legal action, filed on March 12 in the BC Supreme Court, targets Masimo Corp., Masimo Canada ULC, Keltic (Prior) Development LP, Keltic (Prior) GP Ltd., and Keltic Canada Development Co. Ltd. as defendants.
Sager’s notice of civil claim alleges that he played a crucial role in identifying and facilitating the acquisition of a Vancouver property, which he claims led to a binding purchase agreement between Masimo and Keltic. However, Sager asserts that he was not fully compensated for his work when the deal was ultimately terminated.
According to the claim, Sager was promised a fee for his services once Masimo acquired a suitable location for its facility, which was intended to address challenges like fentanyl use and addiction. In October 2021, he identified a potential property at 230 Prior St. in Vancouver, which was owned by Keltic (Prior) Development LP. After bringing the site to the attention of Masimo founder Joe Kiani, Sager claims he negotiated terms and introduced Kiani to the location.
Sager alleges that, on October 8, 2021, Rachel Lei, the CEO of Keltic Canada Development Co. Ltd., offered him a commission of one percent of the purchase price for facilitating the deal. This offer was allegedly confirmed by Kiani, and the agreement included the fee as a term of the sale.
On February 11, 2022, Masimo and Keltic entered into a purchase and sale agreement for the Vancouver property, valued at $123 million, with the contract explicitly stating that Sager would receive a one percent commission from the purchase price, to be paid by Keltic.
While Masimo paid initial deposits for the property in early 2022, Sager was paid $210,000 as his share of the initial and second deposits. However, he claims that the remainder of the $1.02 million commission was to be paid once the full purchase price was settled, as agreed.
Over the next 2.5 years, Sager alleges that Keltic representatives repeatedly assured him that the remaining payment would be made. However, in late 2024, he learned that Masimo was seeking to terminate the agreement due to internal corporate governance changes, which were triggered by Politan Capital Management, a hedge fund that gained significant control over Masimo’s board of directors.
In September 2024, Politan effectively took control of Masimo’s board, and the new leadership decided to withdraw from the purchase agreement. Keltic agreed to release Masimo from its binding obligations.
Despite his efforts to secure the promised payment, Sager claims that Keltic informed him in December 2024 that it would not be paying the remaining $1.02 million commission.
None of Sager’s allegations have been tested in court, and neither Masimo nor Keltic have publicly responded to the lawsuit as of press time.
Sager, who served as West Vancouver’s mayor in the 1990s and was re-elected in 2022, is no stranger to public scrutiny. Earlier this year, a special prosecutor cleared him of any criminal wrongdoing following an investigation into campaign finance irregularities during his 2022 mayoral campaign. Elections BC also concluded its investigation into the matter without filing charges.
This lawsuit adds another chapter to the public life of a long-time politician who has remained a prominent figure in local governance.
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