At a special board meeting Friday morning, the Bay Health Foundation voted to accept a final settlement of all claims against BP.
Six voting members voted unanimously to accept the $3.87 million settlement. The offer was made Thursday afternoon by BP. Lawyers advised board members that now was the time to act since the statute of limitation was about to expire.
Vice-chairman Dr. Jim Cook says this final settlement is fair and reasonable and a win-win for Bay County. "I think it's wonderful for the bay health foundation. It's going to help us with our mission. It's going to help us continue our pension and the other responsibilities of the transaction and also our activities in the healthcare arena."
Bay Medical Center was the first healthcare claim settled since the 2010 Deepwater Horizon Oil Spill. The hospital netted $1.1 million for their losses in ER visits.