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Paracor Medical, Inc., a private venture-backed company developing device-based treatments for heart failure, today announced the closing of $44.35 million in its Series D funding Paracor Medical, Inc. was formed in 1999 with the goal of developing a family of device-based therapies to attenuate the progression of heart failure for the 5 million U. S. and 22 million global patients who have been diagnosed with the disease. An additional 400,000 to 700,000 heart failure patients are diagnosed each year in the United States, and the mortality rate is reported to approach 50% within five years of diagnosis.