What FHC does

FHC, Inc. is a privately held precision medical device manufacturer headquartered in Bowdoin, Maine, founded in 1971, that designs and sells neurosurgical and neuroscience research instrumentation. The company operates in two complementary end markets: clinical functional neurosurgery and preclinical neuroscience research. Its clinical portfolio includes the STarFix patient-specific stereotactic platform for deep brain stimulation (DBS), stereoelectroencephalography (SEEG), and laser ablation; the FDA 510(k)-cleared Guideline 5 neuromodulation targeting system with microelectrode recording and current-steering stimulation; the WayPoint Navigator surgical planning software (cleared in the US, EU, Australia, Canada, and parts of South America); and the ATLAS Neurophysiology System, which received EU MDR certification in June 2026 alongside prior FDA 510(k) clearance. The research portfolio, materially expanded by the December 2021 merger with NeuraLynx (Bozeman, MT), centers on the Digital Lynx+ multichannel data acquisition system (up to 1024 channels), the Cheetah data acquisition and experiment-control software, the N-Form customizable 3D multi-electrode array (via a partnership with Modular Bionics), and the NeuroCraft line of microelectrodes and research devices.

FHC monetizes primarily through one-time clinical hardware sales priced by quote with 6-week standard lead times (25% rush surcharges apply) plus recurring annual service agreements for technical support and software maintenance. Research products are sold directly via an e-commerce storefront (NeuroCraft brand), with quantity discounts of 5–15%, and clinical customers are reached through a US direct field sales organization (Regional Sales Managers and Clinical Application and Sales Specialists across four US territories) and a network of international agents. Pricing is opaque for clinical products; transaction-level pricing only exists for the NeuroCraft research line. The customer base spans academic neuroscience laboratories, tier-1 research hospitals (Royal Melbourne Hospital, University of Kentucky are referenced users), and Epilepsy Monitoring Units; supported geographic markets include the US, Canada, the EU, the UK, Switzerland, France, Sweden, South Korea, and Colombia. FHC also integrates with and distributes complementary third-party products (Medtronic Visualase, NeuroPace RNS, IMRIS intraoperative MRI, Monteris, and SEEG electrodes from Ad-Tech/DIXI/Integra), positioning itself as a workflow anchor rather than a single-product vendor.

The company's regulatory footprint across FDA, EU MDR, Health Canada, TGA (Australia), and select South American authorities — combined with 48 years of accumulated clinical evidence and a teaching presence at the Greenville Neuromodulation Center — constitutes the primary barrier to entry. Leadership comprises CEO Cosmin Serban, Chairman F. Andrew (Andy) Haer (appointed May 2019), and VP Sales and Marketing Sam Norris; ownership is founder/management-centric with no disclosed external investors. R&D milestones over 2024–2026 (STarFix Designer, Digital Lynx+, ATLAS Stim Headbox, Cheetah v7, EU MDR for ATLAS, N-Form) indicate continued investment to refresh both clinical and research lines.

Name

FHC

Legal name

FHC, Inc.

Website

https://fh-co.com

Company type

Private

Founded year

1971

Operating status

Operating

Headcount range

101–250 employees

Short description

FHC is a privately held medical device manufacturer founded in 1971 that designs and sells precision neurosurgical platforms (STarFix, Guideline 5, WayPoint Navigator) and neuroscience research instrumentation (Digital Lynx+, Cheetah, ATLAS, NeuroCraft) to neurosurgeons, neurologists, and academic research laboratories worldwide.

Ownership category

akta.pro rank

Product category

Neurosurgical & Neuroscience Research Instrumentation

NAICS

Surgical and Medical Instrument Manufacturing (339112), Analytical Laboratory Instrument Manufacturing (334516), Electromedical and Electrotherapeutic Apparatus Manufacturing (334510), Navigational, Measuring, Electromedical, and Control Instruments Manufacturing (3345)

SIC

Surgical & Medical Instruments & Apparatus (3841), Laboratory Analytical Instruments (3826), Electromedical & Electrotherapeutic Apparatus (3845)

akta.pro primary industry

Microscopy, Imaging & Flow Cytometry Instruments (HLAGAIAE)

akta.pro secondary industries

Specialty & Biomarker Laboratory Services (Immunoassays/Flow/Cytometry) (HLAGAEAB), Digital & AI-Enabled Diagnostics (algorithmic interpretation, decision support tied to assays) (HLAAALAO), Clinical Trial Informatics (EDC/CTMS/eCOA/eTMF) (HLAGAJAM), In Vivo Pharmacology (Efficacy/PD Models) (HLAGAFAA)

Keywords

• Stereotactic neurosurgery devices
• Neurophysiology recording systems
• Deep brain stimulation equipment
• Neuroscience research instruments
• Surgical planning software

Headquarters

HQ city

Bowdoin

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Supply Chain, Infrastructure

Revenue model

1. Medical Device Hardware Sales: FHC generates revenue primarily through the sale of proprietary medical hardware including microelectrodes, stereotactic platforms (STarFix), neuromodulation systems (Guideline 5), and neurophysiology systems (ATLAS, Digital Lynx+). These are one-time capital purchases with optional service agreements. Standard delivery is 6 weeks with optional 25% rush charges for expedited orders.
2. Research Product Sales (E-commerce): Neurocraft-branded research microelectrodes and devices are sold directly through FHC's online storefront. Payment is accepted via Purchase Orders and credit cards (Visa, Mastercard). Quantity discounts of 5–15% apply for packaged items. International orders incur additional taxes, duties, and shipping charges.
3. Service Agreements: FHC offers service agreements for ongoing technical support, software maintenance (including lifetime software upgrades for NeuraLynx products), on-site training, and preventive maintenance for its clinical and research systems.
4. Custom Product Orders: FHC manufactures custom microelectrodes and custom-modified products to meet specific customer requirements. These are built to order with standard 6-week lead times. Custom orders carry a 20% restocking fee if returned (standard products) or cannot be returned (custom-built microelectrodes).

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

FHC designs, manufactures, and internationally markets precision medical devices, instruments, and software for neurosurgeons and neuroscience researchers. Its clinical portfolio includes FDA 510(k)-cleared stereotactic platforms, microelectrodes, neuromodulation targeting systems, intraoperative neurophysiology systems, and surgical planning software used in deep brain stimulation (DBS), stereoelectroencephalography (SEEG), and laser ablation procedures. Its research portfolio, anchored by the NeuraLynx acquisition, provides high-channel-count electrophysiology data acquisition systems, experiment control software, microelectrodes, and multi-electrode arrays used in animal neurophysiology labs worldwide.

Product overview

FHC is a neuroscience instrumentation company offering a dual portfolio of clinical products for neurosurgery and research products for electrophysiology laboratories. Clinical offerings include the Guideline Neuromodulation System (FDA-cleared electrophysiological recording/stimulation for DBS), STarFix patient-specific stereotactic platforms (unilateral, bilateral, multi-oblique variants for DBS, SEEG, ablation), WayPoint Navigator surgical planning software, and the NeuraLynx ATLAS clinical neurophysiology system with headboxes and headstages. The research portfolio centers on NeuraLynx data acquisition systems (Digital Lynx + supporting up to 1024 channels), Cheetah experiment control software, and related hardware including microdrives, microelectrodes, and commutators. FHC also distributes complementary third-party products (Medtronic Visualase laser ablation, NeuroPace RNS, SEEG electrodes from Ad-Tech/DIXI/Integra) and partners with Modular Bionics for the N-Form 3D electrode array.

Differentiator

Problem solved

Functional benefit

Brands

• NeuraLynx: Electrophysiology data acquisition systems, software, and accessories for neuroscience research. Includes Digital Lynx +, Cheetah software, ATLAS clinical neurophysiology systems, and research hardware.
• NeuroCraft
• STarFix
• STarFix Designer
• Guideline
• WayPoint Navigator
• microTargeting
• STar
• Modular Bionics

Products and services

• Guideline 5 Neuromodulation System FDA 510(k)-cleared electrophysiological recording and stimulation system for deep brain stimulation (DBS), targeting movement disorders, epilepsy, pain, and psychiatric disorders. Provides 8–16 simultaneous microelectrode and low-frequency recording channels, constant-current and constant-voltage stimulation with current steering, and REX automated target-localization analysis tools.
• STarFix Stereotactic Platforms Patient-specific stereotactic fixtures for deep brain stimulation (DBS), SEEG electrode implantation, and laser ablation, with unilateral, bilateral, and multi-oblique platform variants. Delivers sub-millimeter accuracy and rapid setup, with simultaneous multi-trajectory access for complex procedures and the ability to keep patients sedated throughout DBS surgery.
• WayPoint Navigator Surgical planning software for epilepsy diagnosis and treatment that combines automatic localization of SEEG electrode contacts from post-op CT with EMU foci localization to create 3D visualization of segmented leads, brain structures, and seizure spread. Clinically cleared for sale in the US, EU, Australia, Canada, and parts of South America.
• STarFix Designer Software tool for pre-operative planning of STarFix procedures, enabling image import and registration, automatic fiducial extraction, patient-specific 2D/3D visualization, and trajectory planning for DBS and SEEG procedures.
• NeuraLynx ATLAS Neurophysiology System Clinical neurophysiology system (FDA 510(k) cleared and EU MDR certified) used in epilepsy monitoring units and neurosurgery for intracranial electrode recording and stimulation. Interfaces with third-party macro electrode arrays (ECoG, depth electrodes, grid and strip electrodes) for intraoperative neural recording and stimulation.
• ATLAS Stim Headbox FDA 510(k)-cleared 64-channel clinical headbox enabling simultaneous stimulation and continuous recording from intracranial electrodes interfacing with the ATLAS Neurophysiology System. Supports Nihon Kohden, Touchproof, and Natus connectors.
• Digital Lynx + Next-generation multichannel data acquisition system for animal neurophysiology, supporting up to 1024 channels with low-noise digitization on headstage, swappable digital and analog front-end interfaces, and integrated Cheetah software for stimulation, recording, and closed-loop experiment control.
• Cheetah Software High-performance electrophysiology recording and experiment control software supporting 8 to 1024 channels with software-defined referencing, stimulation dialog, channel cloning with digital filtering, real-time FFT plots, and closed-loop experiment control. Integrates with Digital Lynx+, Digital Lynx SX, FreeLynx, and LabLynx data acquisition systems, and is programmable via the NetCom API.
• N-Form Multi-Electrode Array Customizable 3D multi-electrode array with up to 128 channels in a three-dimensional space, featuring monolithic construction for chronic in vivo electrophysiology and proven long-term implantation stability exceeding 12 months in marmosets. Developed in partnership with Modular Bionics Inc.
• STar Microdrive System Microdrive system for controlled, precise positioning of microelectrodes during neuroscience research procedures.
• NeuroCraft Microelectrodes & Insertion Tubes Research-grade microelectrodes and insertion tubes for neural recording and stimulation in animal studies; available for online purchase with quantity discounts of 5–15%.
• NeuroCraft Research Devices Research hardware devices including data acquisition systems, commutators, and animal interfaces sold under the NeuroCraft brand for neuroscience laboratories.
• microTargeting Microelectrodes & Insertion Tubes Clinical-grade microelectrodes and insertion tubes used with FHC stereotactic platforms and targeting systems for precise neural targeting during neurosurgical procedures such as DBS.
• NLX-PyIO (Python Utilities) Python interface utilities for reading and writing Neuralynx data files, enabling integration with NumPy and other Python-based scientific workflows. Bundled research software complementary to Cheetah and NeuraLynx data acquisition systems.
• Service Agreements Ongoing technical support, software maintenance (including lifetime software upgrades for NeuraLynx products), on-site training, and preventive maintenance agreements for FHC and NeuraLynx clinical and research systems.

Quantifiable outcome

• STarFix enables patients to remain sedated during entire DBS procedure, unlike traditional awake surgery approaches
• +3 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature9 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Avrio MedTechcoreChannel Partner/ Reseller/ Distributor · 26 March 2026FHC announced an official partnership with Avrio MedTech to distribute Halyzia® SEEG Review Software, expanding FHC's epilepsy solutions portfolio for stereoelectroencephalography review and analysis.
• Modular Bionics Inc.coreStrategic or Co-development Partner · 27 March 2025FHC partnered with Modular Bionics Inc. to introduce N-Form®, a customizable 3D multi-electrode array for chronic in vivo electrophysiology. N-Form features up to 128 channels in a 3D space with monolithic construction and proven stability for over 12 months in marmosets. Paired with Digital Lynx+, researchers can achieve high-quality data for demanding neuroscience applications.
• NeuraLynxcoreStrategic or Co-development Partner · 1 December 2021FHC merged with NeuraLynx (effective December 1, 2021), combining FHC's clinical neurosurgical products (STarFix, Guideline 5, ATLAS) with NeuraLynx's research electrophysiology systems (Digital Lynx+, Cheetah software, FreeLynx, LabLynx). The two companies' products are complementary with virtually no overlap—FHC addresses clinical OR needs while NeuraLynx serves research labs. NeuraLynx continues to operate from Bozeman, Montana as an FHC company.
• Neurotargeting LLCcoreTechnology or Integration · 6 December 2019FHC partnered with Neurotargeting LLC (founded 2007, emerged from Vanderbilt University research with NIH funding) to develop and release WayPoint Navigator 4.5 planning software. FHC holds exclusive global sales responsibility for WayPoint Navigator. The software is the only planning solution combining EMU foci localization with post-SEEG CT scans for complete 3D visualization.
• University of KentuckyminorStrategic or Co-development PartnerFHC's Innovation Center collaborated with Dr. Craig Van Horne at the University of Kentucky to explore a new treatment for Parkinson's disease using FHC products.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Boston Scientific: Markets the Vercise DBS system and a portfolio of neuromodulation devices. Competes with FHC at the system-of-care level for functional neurosurgery centers and epilepsy programs.
• Medtronic: Dominant incumbent in DBS (Activa), sensing-enabled stimulators, and laser ablation (Visualase, distributed by FHC). Direct overlap with FHC in the DBS/laser ablation workflow and the most important large-cap competitor.
• Integra LifeSciences: Diversified neurosurgery and neurosurgical instrument company whose electrode and cranial access tools are listed as compatible with FHC's SEEG and stereotactic platforms, creating overlap and partnership simultaneously.
• Abbott (formerly St. Jude Medical): Sells the Infinity DBS platform and Proclaim neurostimulators. Overlaps with FHC in DBS targeting workflows and intraoperative neurophysiology monitoring for movement disorder and pain indications.

Emerging players

• Renishaw: Manufactures the neuromate stereotactic robot used for DBS and SEEG electrode placement. Competes with FHC's STarFix platform in the surgical targeting and trajectory planning category.
• Neuralink: High-profile brain-computer interface company developing implantable high-channel arrays and a surgical robot. Overlaps with FHC's research electrode and chronic implant efforts via Modular Bionics, and represents the most visible adjacent emerging player.

Direct peers

• Blackrock Microsystems: Competing manufacturer of multichannel neural recording systems and research microelectrodes. Most direct head-to-head with NeuraLynx/FHC's Digital Lynx+ and Cheetah stack in academic neurophysiology labs.
• DIXI Medical: European maker of SEEG electrodes used for stereoelectroencephalography. Compatible with FHC's STarFix and WayPoint Navigator platforms and a direct competitor in epilepsy surgical electrodes.
• Ad-Tech Medical Instrument Corporation: Manufacturer of intracranial electrodes, including SEEG depth and subcortical electrodes used in epilepsy surgery. FHC lists Ad-Tech as a compatible vendor in its SEEG workflow, making it the closest head-to-head electrode peer.
• Plexon Inc: Provides data acquisition systems, electrode arrays, and analysis software for neuroscience research. Closely comparable to FHC/NeuraLynx in serving academic and BCI research labs.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/fhcneuro
• LinkedInlinkedin.com/company/fhc-inc
• Xx.com/fhcneuro

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about FHC