Police Scotland are appealing for witnesses following the drama in the town’s Lower Newmarket Street in the early hours of this morning.
Officers were called to the area at around 3.15am followimg a report of a disturbance.
The man, who has not been named, was found to have sustained a “serious, but not life-threatening” head injury. He was initially taken to Forth Valley Royal Hospital in Larbert, but later transferred to the Western General in Edinburgh.
Policer are anxious to trace a man in connection with the incident.
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He is described as white, around 5ft 6ins tall with a stocky build and shaven head. He was wearing a bright red short-sleeved t-shirt and believed to have left the area in a silver-coloured taxi.
The area was cordoned off as officers probed the scene for clues. Two silver-coloured covers, thought to be protecting evidence, could be seen in the road as taxis and pedestrians were kept away.
Detective Inspector Jim Thomson of Falkirk CID said: “We’re continuing to conduct inquiries in the area and want to thank the local community and businesses for their patience at this time. We’de urge anyone who may have witnessed this incident, or who recognises the man’s description, to get in touch.”
Those with information can contact Police Scotland on 101 or report this anonomously to Crimestoppers on 0800 555 111.