On the plus side, the El Segundo, California, practice has increased revenues tenfold over the past five years through acquisitions and is in a strong cash position, the ratings service noted.
One-third of practice leaders said they have been forced to freeze hiring and shed employee numbers among CT staffers to counter decreasing patient visits.
CEO Jim Rechtin said the pause will last through 2021, emphasizing that the physician firm’s political activities must reflect “our values as a national medical group."
Around since 1975, Progressive Radiology dubs itself as the “leading” provider of outpatient imaging services in Illinois, Maryland, Virginia and the District of Columbia.
He confirmed the move on Tuesday, noting that the platform’s decision to purge some 70K users after Jan. 6 riots on Capitol Hill influenced his thinking.