Despite global political uncertainties and a sluggish economic outlook for 2017, the global healthcare industry is set for an invigorating year, according to a new analysis from Frost & Sullivan. This outlook is due to a partial realization of major healthcare policies and initiatives, technology advancements and value-based care driving the adoption and need for consumer-centric targeted therapies. Future drugs and medical devices will be more targeted to meet the unique needs of emerging markets (e.g. China, India, Brazil) which demonstrate high growth opportunities compared developed markets (e.g., the United States and Western Europe. Growing at a CAGR of 4.8 percent, the industry is likely to reach revenue of $1,731.8 billion.

Navidea Biopharmaceuticals announced the completion of the sale of its Lymphoseek product to Cardinal Health. Navidea received approximately $83 million at closing, and will have the opportunity to earn up to $227 million of contingent consideration based on certain milestones through 2026, with $17.1 million of that amount guaranteed over the next three years.

Philips and Phoenix Children’s Hospital (Arizona) announced a long-term strategic partnership with a total value of up to $65 million, providing the hospital access to Philips’ advanced medical technologies. Phoenix Children’s is the first stand-alone children’s health system to sign a long-term strategic partnership model with Philips.

Seven leading healthcare providers will be able to fund education and training programs to improve the patient experience and safety in diagnostic imaging, thanks to the ninth annual 2016 Putting Patients First grants. AHRA: The Association for Medical Imaging Management and Toshiba Medical recently awarded one grant of up to $20,000 to an integrated delivery network (IDN) and six grants of up to $7,500 — three focused on pediatric imaging and three on overall patient care and safety in imaging.