Kennett Square-based Genesis HealthCare saw the price of its shares rise by nearly 14 percent after the company named Chairman Robert H. Fish as its new CEO, writes John George for the Philadelphia Business Journal.

Fish will succeed George V. Hager Jr., who retired after 17 years at the helm of the nursing home operator. Hager Jr. will continue in a senior advisory role for the board of directors.

Fish takes over at a time when Genesis is battling the effects the coronavirus has had on its operations. In November, company executives warned that a bankruptcy filing would be a possibility.

During the first three quarters of last year, Genesis posted a net loss of $86.6 million on revenue that was nearly $3 billion.

Fish “brings expertise and continuity essential to Genesis as we continue to navigate the impact of COVID-19 and explore avenues to strengthen the company financially,” said Hager Jr.

Fish served as CEO of Skilled Healthcare Group before it merged with Genesis six years ago. He also served as CEO of Quorum Health from 2018 to July 2020.

He will remain Chairman of the Genesis board.

Read more about Genesis HealthCare in the Philadelphia Business Journal here.