Rescue plan for hospitals trust

Health watchdog Monitor has secured a formal agreement from Peterborough and Stamford Hospitals NHS Foundation Trust to implement a recovery plan aimed at cutting debts and securing vital services for patients.

Live updates

Rescue plan for cash strapped hospitals

A reprieve has been handed to two of the region's hospitals at the centre of a financial crisis.

The Peterborough and Stamford Hospitals Trust has been unable to balance the books since signing a private finance initiative to pay for a new hospital for Peterborough.

It cost £289 million to build and at the moment needs an extra £40 million a year just to keep it running. In the end it could cost one and a half billion pounds.

Now the NHS regulator Monitor has come up with a rescue package aimed at turning things around.

Advertisement

Back to top

Latest ITV News reports