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Former CEO Reveals the Reason behind Centura Health’s Disbandment


Sep 14, 2023

The dissolution of Centura Health, a joint venture between CommonSpirit Health and AdventHealth, has caused a significant stir in Colorado’s hospital market. However, the reasons behind the breakup remain a mystery, with little clarity provided by the advertising campaign. To gain insight, The Sun reached out to Peter Banko, former Centura CEO and current president of Common Spirit, for an interview. Banko discusses the internal differences in governance and management styles that led to the separation. He dismisses speculation that religious differences played a role, emphasizing that both organizations are rooted in Christian traditions. The decision to retire the Centura name is also explained as part of the agreement between the two parties. Moving forward, Banko reveals that CommonSpirit plans to expand its presence in existing markets and may build new facilities or repurpose existing ones. Financially, the organization is stable, but aims to increase its cash flow for further growth and investment in services. The interview touches on the issues of hospital profitability and how, as a nonprofit organization, CommonSpirit reinvests its profits into the community for the benefit of the population.

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