KPMG has won the contract to operate 'financial hit squads' to work with the highest overspending health authorities and trusts in England.

Following health secretary Patricia Hewitt's revelation that NHS trusts and authorities would collectively overspend by more than £600m over the year, a tender process ensued to appoint a firm to provide turnaround teams in the 50 biggest overspenders.

KPMG, which revealed Accountancy Age last week that it intended to build up its work within the NHS, has been confirmed as the firm to provide turnaround services. A KPMG spokeswoman would not say how long the contract was or reveal how much it was worth.