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Monitor intervenes at Bolton NHS Foundation Trust

2 August, 2012
Pile of money

Monitor, the independent regulator of NHS Foundation Trusts, has announced that it has used its formal powers of intervention at Bolton NHS Foundation Trust to ensure that the Board is leading the Trust effectively on behalf of patients.

The decision was made as a result of the Trust's worsening financial position, which has lead to a failure to comply with its general duty to exercise its functions effectively, efficiently and economically – part of its terms of authorisation for foundation status.

Monitor has announced that it is:

  • Appointing David Wakefield as an interim Chair to drive the recovery of the Trust;
  • Requiring the Trust to appoint external advisors to assist in the development of a robust financial recovery plan;
  • Requiring the Trust to appoint a Turnaround Director, to sit at board level, to develop and deliver an effective recovery plan.

Monitor originally found Bolton NHS FT in significant breach in April 2012. It asked the Trust to commission an external review of governance and to rectify performance on healthcare standards and targets.

Subsequently, the Trust's financial position deteriorated significantly and Monitor asked the Trust to commission a review of its financial position and financial governance and reporting. This review clarified the seriousness of the Trust’s financial position requiring Monitor to act quickly to ensure that the Trust can immediately take the required steps to ensure stability.

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