Stokes Counseling closed its doors on May 10.
The Naugatuck, Connecticut-based outpatient mental health provider was backed by Eads Bridge Holdings. Eads Bridge made the investment in Stokes Counseling, its first partnership ever, in early 2023.
“We are deeply grateful to the clients, families, providers, and community members who trusted us to be part of their journey over the years,” Stokes Counseling says on its website. “It has been an honor to support the mental health and wellness needs of our community since 2011, and we sincerely thank you for your support, trust, and partnership throughout that time.”
The company’s website has been stripped down to only include information about medical records requests, a suggestion to Sycamore Counseling Services and crisis services information. BHB’s request for comment sent through the records request email has not been returned. Several officials formerly associated with the company appear to no longer be with the company. Founder Dr. Michael Stokes left the company as CEO in June 2025.
An archived version of the Stokes Counseling website shows that it operated three locations: two in Naugatuck and one in Ansonia.
At the time of the investment from Eads Bridge Holdings, Stokes Counseling employed 180 clinicians. It treated people with depression, anxiety and PTSD, with particular expertise for LGBTQ+ individuals and families experiencing foster care or adoption challenges.
It’s not clear why the company closed. BHB is unable to reach those involved with the company.
The shuttering of a company like this presents a surprising outcome. The mental health space, especially outpatient mental health, has had sustained merger and acquisition activity for years, reflecting a diversity of financial and strategic buyers. The Braff Group finds that more than 80 mental health deals closed in 2025, helping to drive a 17% year-over-year increase in dealmaking.
This isn’t the only mental health provider to face recent turbulence. Earlier this week, Texas-based PsychPlus filed for Chapter 11 bankruptcy.