An adjustable bed is described that includes a main frame having a mattress support platform mounted thereon, wheels mounted to the main frame for displacement of the adjustable bed, and a lift mechanism supporting the main frame and actuable to displace same between a fully collapsed position and a fully elevated position. The lift mechanism includes two or more leg members each having a first end pivotally connected with a corresponding one of the wheels at a lower pivot and a second end pivotally connected with the main frame at a movable upper pivot. A stabilizer link has an upper end pivotally connected with the main frame and a lower end pivotally connected with each the leg member at an intermediate pivot point. An actuating assembly includes at least one actuator having a force multiplying actuating linkage interconnecting the actuator and the stabilizer link.