Estia Health Limited
(ASX:EHE) has accelerated its acquisition spree with the purchase of one facility in Mount Coolum in Queensland and three facilities in Northern New South Wales.
The residential aged care operator will now have 49 facilities and says it is on track to reach its target of 10,000 beds by the end of FY2020.
CEO Paul Gregersen says the company is well placed to speed up its growth ambitions after posting strong half year results, meeting occupancy targets and outperforming on a cash flow basis.
The company floated on the Australian Securities Exchange in December last year and has seen its share price climb almost 30 per cent this year.
Estia Health reported a net loss of $32.79 million in the first half of the 2015 financial year.