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.
Monitor has secured a formal agreement from Peterborough and Stamford Hospitals NHS Foundation Trust to implement a recovery plan aimed at closing an annual £40 million financial gap and securing vital services for patients.