The regulator stepped in after the trust’s finances deteriorated and will look at the underlying causes and identify possible steps that could improve the situation.
The trust, which runs Leighton Hospital and the Victoria Infirmary, reported a surplus last year but its finances have deteriorated and it is projecting a £5.4 million deficit for the 2015/16 financial year.
Paul Chandler, Regional Director at Monitor, said:
The trust’s finances have deteriorated and the most recent projections show that things could get worse over the coming year.
Patients in and around Crewe, Northwich and Winsford rely on the services this trust provides, so we’re investigating to find out more about the problem and what can be done to improve the situation.
No decision has yet been made on whether regulatory action will be taken but Monitor will announce the outcome of its investigation in due course.