neuroConn GmbH

What neuroConn GmbH does

neuroConn GmbH is a Germany-based medical device company founded in 2005 and headquartered in Ilmenau, specializing in non-invasive brain stimulation (NIBS) and neurophysiology equipment for clinical and research applications. Its core product portfolio — THERA PRAX transcranial stimulation systems, NEURO PRAX EEG/neurofeedback systems, and DC-STIMULATOR devices — is CE-certified and forms the hardware backbone of the broader neurocare group AG platform. The company's differentiating technology layer includes Neuro-Cardiac-Guided TMS (NCG-TMS), a proprietary intermittent Theta Burst Stimulation (iTBS) protocol, QEEG-based personalized targeting, and real-time closed-loop systems that combine brain stimulation with simultaneous EEG monitoring for adaptive therapy.

The business model is hybrid and vertically integrated. Revenue is generated through three primary channels: (1) B2B device sales of TMS, tDCS/tES, neurofeedback, and EEG/QEEG systems to hospitals, clinics, and research institutions; (2) operation of an owned and franchised clinic network spanning 11+ Netherlands locations, the USA, Australia, the UK, and Ireland; and (3) training and certification revenue through the neurocare Academy. Pricing for medical devices is quote-based and not publicly disclosed, consistent with enterprise medical equipment sales. Customer segments split between healthcare providers (psychiatrists, neurologists, psychologists) seeking evidence-based neuromodulation tools, patients with treatment-resistant mental health conditions, and academic research institutions running clinical trials.

Recent strategic activity reflects an aggressive expansion phase: EUR 16–19.3 million raised across multiple institutional rounds (TVM Capital Healthcare, Impact Expansion, bm|t, Apeiron/re.Mind), three FDA clearances in 2024 (iTBS protocol, OCD, adolescent depression), MDMA approval in Saudi Arabia (January 2026), and successive acquisitions of clinics (Smart TMS UK/Ireland, MeJa Psychologie, Brain Dynamics) and device makers (MAG & More). Geographic expansion has reached Japan via a Kyowa joint venture and MENA via a dedicated regional subsidiary. Investors include re.Mind, explicitly tied to public listing preparation, suggesting the group is positioning for a near-term capital markets event.

Name

neuroConn GmbH

Legal name

neuroConn GmbH

Website

https://neurocaregroup.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

1–10 employees

Short description

neuroConn GmbH develops CE-certified non-invasive brain stimulation and EEG/neurofeedback medical devices (THERA PRAX, NEURO PRAX, DC-STIMULATOR) sold to hospitals and clinics globally, operating within the neurocare group platform that combines device sales, owned TMS clinics, and BCIA-accredited clinician training.

Ownership category

akta.pro rank

Product category

Neuroscience Medical Devices

NAICS

Electromedical and Electrotherapeutic Apparatus Manufacturing (334510)

SIC

Electromedical & Electrotherapeutic Apparatus (3845)

akta.pro primary industry

Implantable Neuromodulation & Neurostimulation (SCS/DBS/VNS/PNS) (HLAHAEAK)

akta.pro secondary industry

Neurological Monitoring (EEG, Seizure/Sleep/Neuro Wearables) (HLAHACAE)

Keywords

• Non-invasive brain stimulation
• Transcranial magnetic stimulation
• Neurofeedback systems
• EEG recording devices
• TDCS tES devices

Headquarters

HQ city

Ilmenau

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Distribution channels5 records

Marketing channels6 records

Core offering

neuroConn GmbH develops and manufactures certified neuroscience medical devices for non-invasive brain stimulation, including the THERA PRAX transcranial stimulation system, NEURO PRAX EEG recording and neurofeedback system, and DC-STIMULATOR devices. The company specializes in closed-loop neuromodulation solutions that integrate brain stimulation with simultaneous real-time EEG monitoring and QEEG-based targeting for clinical and research applications.

Product overview

neuroConn GmbH, operating as part of the neurocare group ecosystem, develops neurostimulation and neurophysiology devices. The core product portfolio includes the THERA PRAX® transcranial stimulation system and NEURO PRAX® EEG recording system, both certified under EU standards. The company specializes in closed-loop neuromodulation solutions that combine brain stimulation with real-time neural monitoring, including Target Engagement technologies for measuring treatment precision. neuroConn products are designed for both clinical practice and research applications in the field of non-invasive brain stimulation (NIBS).

Differentiator

Problem solved

Functional benefit

Brands

• THERA PRAX: Neurostimulation device system
• NEURO PRAX

Products and services

• THERA PRAX transcranial stimulation system Certified medical device for transcranial magnetic and electrical stimulation, designed for clinical therapy and neuroscience research use by psychiatrists, neurologists, and research institutions.
• NEURO PRAX EEG and neurofeedback system EEG recording and neurofeedback system designed for clinical neurophysiology applications, with compatibility for integrated neuromodulation modalities.
• DC-STIMULATOR transcranial electrical stimulation device Certified transcranial direct current and electrical stimulation (tDCS/tES) device for clinical and research use.
• Closed-Loop Solutions Real-time feedback systems combining brain stimulation with simultaneous EEG monitoring to enable adaptive treatment protocols based on neural activity, for clinical and research applications.
• Target Engagement Technologies Technologies and methodologies for measuring and verifying brain stimulation target engagement during neuromodulation treatments, improving precision and validation of stimulation effects.

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Nine partnerships are on record, tiered regional and core.

• Smart TMS Clinics (UK & Ireland)regionalChannel Partner/ Reseller/ Distributor · 24 April 2024Acquired Smart TMS Clinics in UK and Ireland; clinics have been rebranded under neurocare identity, adding significant coverage in British Isles.
• STIMIT AGcoreStrategic or Co-development Partner · 24 August 2022Strategic cooperation with Stimit AG, a company developing solutions for functional muscle stimulation integrated with neuromodulation therapies.
• Fondazione Policlinico Gemelli (Italy)coreStrategic or Co-development Partner · 23 August 2022Strategic cooperation in Rome to deliver neuromodulation treatments through one of Italy's leading academic medical centers.
• MAG & More (Germany)coreOEM/ Whitelabel/ Licensing Partner · 16 May 2021German-based leader of Transcranial Magnetic Stimulation devices joins neurocare group. MAG & More is now part of the neurocare group family.
• Kyowa (Japan)regionalStrategic or Co-development Partner · 5 April 2020Equity participation and strategic joint venture in Japan for market entry and distribution.
• NRx PharmaceuticalscoreStrategic or Co-development PartnerJoint offering of neuroplastic therapy integrating TMS, medications, and psychotherapy targeting depression, PTSD, and other mental health afflictions. NASDAQ:NRXP.
• Mid-Ohio Behavioral HealthregionalChannel Partner/ Reseller/ DistributorCollaborative arrangement to expand neurocare's US footprint through partnership with Mid-Ohio Behavioral Health.
• MeJa Psychologie (Netherlands)regionalChannel Partner/ Reseller/ DistributorAcquisition of perinatal mental health specialists expanding neurocare clinic network to 11 locations in Netherlands.
• Brainclinics Research InstitutecoreStrategic or Co-development PartnerResearch partnership for TMS and OCD treatment studies; validated NCG-TMS proof-of-concept; published in International Journal of Clinical and Health Psychology.

Recent moves8 records

Expansion highlights7 records

Direct peers

• Soterix Medical: US-based developer of tDCS, tACS, and HD-tES neuromodulation systems for research and clinical applications. Directly comparable as a non-invasive brain stimulation device manufacturer with overlapping product portfolio to neuroConn's DC-STIMULATOR line.
• Neuronetics: US-based public company (NASDAQ:STIM) and the dominant installed-base player in TMS systems for depression via the NeuroStar platform. Directly comparable as a TMS device manufacturer targeting the same psychiatrist/mental health clinician customer base.
• Brainsway: Israel-based medical device company commercializing Deep TMS (dTMS) systems for depression, OCD, and smoking addiction. Competes head-to-head with neuroConn in TMS device sales and FDA-cleared indications.
• Magstim: UK-based manufacturer of TMS stimulators and coils used widely in clinical and research settings. Directly comparable as a TMS device maker serving neurology and psychiatry researchers and clinicians.
• Compumedics: Australia-based manufacturer of EEG and sleep diagnostic equipment. Comparable through overlapping EEG/QEEG product categories with neuroConn's NEURO PRAX system.
• MagVenture: Danish manufacturer of TMS systems (MagPro) used in both research and clinical depression treatment. Direct competitor in the TMS device market with similar FDA-cleared depression indication.
• Neurosoft: Russia-headquartered manufacturer of EEG, EMG, and neurostimulation equipment for clinical and research use. Directly comparable through overlap in EEG and tDCS/tES product categories.
• eemagine: Berlin-based developer of high-density EEG systems for research and clinical applications. Comparable as a German-headquartered neuroscience device company targeting overlapping research customers.
• Rogue Research (Brainsight): Canadian manufacturer of TMS neuronavigation systems (Brainsight). Comparable as a complementary TMS technology provider used by the same clinician and research customers that buy neuroConn's neuronavigation products.

Broad incumbents

• Brainlab: Large German-headquartered medtech company offering neuronavigation, surgical planning, and radiation oncology systems. Comparable through overlap with neuroConn's TMS neuronavigation offerings, but operates across a much broader clinical portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/neurocaregroup
• Facebookfacebook.com/neurocaregroup
• LinkedInlinkedin.com/company/neurocaregroup

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds2 records

Investors1 record

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

M&A

Investments

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

Frequently asked questions about neuroConn GmbH