Issue link: https://nebusinessmedia.uberflip.com/i/469117
54 Worcester Business Journal • www.wbjournal.com 25 YEARS: IN REVIEW Fort Devens, a victim of U.S. military cutbacks, is closed in April and transitions into the Devens Commerce Center. While part of Devens remains a reservist cen- ter, the state, as well as voters in Ayer, Shirley and Harvard, created an economic development zone and put Devens' economic future in the hands of MassDevelopment, a quasi-public economic development and real estate agency. Its goal: Transition Devens into a diverse residential and business community. 1996 E.L. Harvey & Sons, Inc. 800.321.3002 • www.elharvey.com Call us for all your waste removal and recycling needs California-based Tenet Healthcare buys OrNda Healthcorp. of Nashville, the par- ent of Saint Vincent Hospital, which was in the process of financing the construc- tion of Medical City in downtown Worcester. The deal is valued at more than $3.1 billion. Tenet was viewed as a good partner for OrNda since both com- panies had similar business philosophies and plenty of financial clout. Simplex Time Recorder Co. of Gardner opens a 680,000-square-foot manufacturing, distribution and research center in Westminster inside a former Digital Equipment Corp. building. The $39.5-million, 190,000-square-foot Worcester Centrum Centre (now the DCU Center) unveils its attached con- vention center in September, providing the city with convention and function space with the 14,500-seat sports arena. The addition has 50,000 square feet of hall space, 12,000 square feet of ball- room space and 11 meeting rooms. The convention center was partially paid for by city and state bonds. The I-495 Technology Corridor Initiative is formed to promote region- al cooperation for economic develop- ment, in part to address obstacles, opportunities and economic growth of the corridor along the highway. One goal is to attract specific companies such as environmentally clean organi- zations, with the hope of drawing more companies to the region. Memorial Health Care and University of Massachusetts Medical Center merge to create UMass Memorial Health Care. The joining of two com- petitors in the health care industry would allow them a better negotiating position on insurance contracts, according to Worcester physician Bruce Karlin. But at the same time, the merger would put pressure on administra- tors at UMass Memorial to get the best possible payback from capital investments. Digital Equipment Corp. (DEC), long a symbol of Massachusetts' technologi- cal prowess, is sold for $9.6 billion to 1997 1998 Fort Devens DCU Center