Aged care roll-up Estia Health has snapped up four new facilities as the company chases its target of 10,000 beds by 2020.

Estia, which was floated by Quadrant Private Equity in a $725 million IPO in December 2014, is the most aggressive acquirer of the three ASX-listed aged care providers, Estia, Japara and Regis.

On Wednesday, Estia said it had acquired three new facilities in Adelaide and one facility on the Gold Coast in Queensland.

“We are well positioned to accelerate our growth ambitions in a disciplined manner that delivers long term value for shareholders,” Estia chief executive Paul Gregersen said.

“These acquisitions fit perfectly into our existing networks in Adelaide and the Gold Coast and will deliver 256 additional single beds when extensions are fully completed.”

The newly acquired sites currently have 181 places, but will be extended to offer a combined 256 new places.

Estia has added 687 beds so far in 2015-16, in-line with its goal to add 500 to 1,000 placed each year.

The total number of beds in the highly fragmented industry is tipped to grow to 260,000 by 2022, up from 190,000.

As well as expanding by acquisition, Estia has inked a deal with retirement village operator Living Choice to develop more than 500 new aged care beds over four years.

The federal government’s latest intergenerational report estimates that the number of Australians aged 15-65 for every person aged over 65 will fall from 4.5 people to just 2.7 people by 2055.

Capitalising on the anticipated surge in demand for aged care is the major thesis behind Estia’s growth ambitions.

Estia’s life as a listed company got off to a shaky start.

The stock plunged as much as 22 per cent from its $5.75 listing price within weeks of the float.

It has since rebounded more than 50 per cent to $6.82, giving the company a market value of $1.2 billion.