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This company has offered behavior change science solutions, consulting, research development, professional training, and software as a service licensing services since 1997. The company’s client base includes health and hospital systems, health plans, large employers, government agencies (such as NIH and CDC), wellness platform providers, universities, and major corporations like Adidas and the Lupus Foundation of America. These service offerings are tailored for organizations seeking to apply behavior change science, research and development projects funded by both public and private sectors, and professional training and speaking engagements. For nearly 30 years, this fully remote company is a nationally recognized leader in behavior change science, with a proven track record of delivering innovative solutions to clients across the United States. With a staff of 8 experienced professionals, including PhD-level behavior scientists, master’s-level project managers, technology specialists, and long-tenured support staff—the business is well-positioned to deliver high-quality, science-driven solutions. Most team members have been with the company for over a decade, reflecting a stable and committed workforce. The sellers are actively involved, from strategic direction and administration to project oversight. They are seeking a sale to start planning for retirement, and to ensure continued success of the company, they are open to staying on for 1-3 years to facilitate a seamless transition. The business has generated nearly $3,000,000 in revenue in 2025 with nearly $1,000,000 in Cash Flow producing a 32% margin. Additionally, the sellers have offered to carry 15% of the purchase price as a show of faith in the continued success of the business post close. Priced at $1,495,000, this is a great opportunity to acquire a highly reputable, science-based firm with a strong foundation, and loyal clients. Growth opportunities are substantial, with potential to expand through the integration of generative AI, participation in the rapidly growing fields of lifestyle medicine and value-based care, addressing the needs of an aging population, and developing new offerings in mental health, organizational well-being, and public health initiatives.
Why we like it
- Earnings Quality: $953K cash flow on $2.9M revenue delivers a clean 32% margin with diversified revenue streams from consulting, training, and SaaS licensing. The business has maintained profitability for nearly 30 years with a stable team where most employees have 10+ years tenure, indicating predictable cost structure and minimal churn.
- Durability & Moat: Nearly three decades of specialized expertise in behavior change science creates significant barriers to entry in a highly technical field. The client roster spanning government agencies (NIH, CDC), major corporations (Adidas), and health systems demonstrates credibility that takes years to build and is extremely difficult to replicate.
- Market Tailwinds: Behavior change science sits at the center of massive healthcare trends including value-based care, lifestyle medicine, and preventive health initiatives. The aging population and growing focus on mental health and organizational well-being create expanding addressable markets for their specialized services.
- Operator Advantage: The fully remote model with established systems and processes provides immediate scalability without geographic constraints. The SaaS licensing component offers recurring revenue potential that could be expanded, while the consulting expertise provides a foundation for developing proprietary IP and software products.
How to improve it
- Productize Core IP: Convert their 29 years of behavioral science expertise into standardized software products and digital courses. This transforms high-touch consulting into scalable recurring revenue streams while maintaining the premium positioning.
- Expand SaaS Licensing: Systematically grow the software licensing component by developing white-label solutions for wellness platforms and health systems. Target enterprise clients who want behavioral science capabilities without building internal expertise.
- AI Integration Strategy: Implement generative AI to augment their behavioral assessments and intervention design, allowing them to serve more clients with the same expert team. This could dramatically improve margins while maintaining service quality.
- Government Contract Expansion: Leverage existing relationships with NIH and CDC to pursue larger federal contracts in behavioral health initiatives. Government spending in this area is increasing and provides predictable, long-term revenue.
- Partnership Channel Development: Create formal partnership programs with health systems, wellness platforms, and corporate wellness providers to generate recurring referral revenue. Their reputation provides significant leverage for channel partnerships.
- Executive Training Productization: Package their expertise into high-value executive training programs for healthcare leaders and corporate wellness teams. This creates a higher-margin revenue stream with minimal incremental costs.
- Acquisition Strategy: Use their platform to acquire smaller behavioral health consultancies or complementary technology companies. Their established client base and operational infrastructure could support bolt-on acquisitions effectively.
- International Expansion: Explore opportunities in international markets where behavioral health is emerging as a priority. Their remote model and established methodologies could scale globally with minimal infrastructure investment.
Diligence notes
- Client Concentration Risk: Verify the revenue distribution across their client base to ensure no single client represents more than 20% of revenue. With government agencies and major corporations, there could be hidden concentration in a few large contracts that creates vulnerability.
- Team Key Person Risk: With sellers actively involved in strategic direction and project oversight, assess the true transferability of client relationships and operational knowledge. Map out which client relationships are tied to specific individuals and create transition plans.
- SaaS Revenue Breakdown: Get detailed breakdown of the software licensing revenue component including recurring vs. one-time fees, client retention rates, and growth trajectory. This will be critical for understanding the scalability potential and recurring revenue base.
- Government Contract Terms: Review all government contracts for renewal terms, payment schedules, and compliance requirements. Government contracts can provide stability but also come with administrative burden and payment delays that need to be factored into cash flow projections.