Cambridge Health Group expands into the United Kingdom with acquisition of specialist care provider

Amanat Holdings completes its acquisition of Cornerstone Healthcare Holdings, a leading UK specialist care operator, marking a significant step in the group's international expansion strategy and lifting Cambridge Health Group's total bed capacity beyond 1,000.

The healthcare landscape across the Middle East and beyond is being reshaped by ambitious operators who understand that excellence in specialist care demands scale, expertise and a commitment to underserved clinical needs. Amanat Holdings, the GCC’s leading listed operator of healthcare and education companies, has taken a decisive step in that direction with the completion of its acquisition of Cornerstone Healthcare Holdings Limited, a distinguished UK provider of specialist high-acuity care.

The transaction represents far more than a straightforward expansion into new geography. Cornerstone operates four specialist care homes across the South of England with 283 beds, providing care for individuals with complex dementia, neuro-progressive conditions, severe mental illness, acquired brain injury and neurorehabilitation needs. The business has demonstrated remarkable discipline in its execution: over the past three years, revenue from existing homes has grown at close to 10% annually, with the business expected to generate approximately £36 million in revenue and £7.0 million in EBITDA in 2027. The opening of The Burren, a 78-bed facility in Bristol in 2025, exemplifies this trajectory of thoughtful expansion.

For Cambridge Health Group, Amanat’s wholly-owned subsidiary, this acquisition deepens and broadens capabilities that have been painstakingly established across the UAE and Saudi Arabia. Since 2021, CHG has expanded from approximately 260 beds to more than 700 licensed beds, a transformation achieved through approximately AED 800 million of disciplined capital investment. The addition of Cornerstone elevates CHG’s total capacity beyond 1,000 beds and establishes a new medium-term target to exceed 1,500 beds through organic expansion, facility development and selective acquisitions. As we reported in previous coverage of Burjeel and Avatrial’s transformative partnership to establish an AI-powered cancer research ecosystem in Abu Dhabi, the regional healthcare sector continues to advance toward greater sophistication and scale.

Dr. Ali bin Harmal Aldhaheri, Chairman of the Board of Directors, framed the acquisition within a broader strategic narrative. Amanat’s July 2026 growth strategy outlined a deployment of approximately AED 1.5 billion across its healthcare and education businesses, targeting a return on equity of at least 10%. With approximately AED 0.9 billion of that target now completed and committed, representing 60% of the total, the group is demonstrating methodical progress. The Cornerstone acquisition joins other investments, including a 68-bed expansion of Cambridge Hospital in Jeddah and the development of a 155-bed specialist integrated care hospital in Riyadh, in forming a coherent vision of scale, capability and returns.

John Ireland, Chief Executive Officer of Amanat Holdings, characterised the transaction as a translation of strategy into commercial reality. Cornerstone brings complementary expertise in specialist care, an experienced management team led by Chief Executive Officer Paul Hayes, and a clearly defined growth strategy rooted in addressing structural undersupply of specialist care facilities in the United Kingdom. The business benefits from established statutory funding and commissioning arrangements with NHS Integrated Care Boards and local authority commissioners, providing a stable foundation for expansion into complementary services including higher-acuity acquired brain injury care and intermediate care provision.

The acquisition, funded through internal resources, was structured as an initial enterprise value of £71 million with up to a further £5 million of deferred consideration linked to performance outcomes, implying a total potential enterprise value of £76 million, approximately AED 380 million. The transaction is expected to deliver returns above CHG’s investment hurdle rate, reflecting Amanat’s commitment to disciplined capital allocation and shareholder value creation.

Source: WAM

What it means for Abu Dhabi

This acquisition signals the maturation of the UAE’s healthcare sector beyond regional confines. Amanat’s ability to deploy capital internationally with disciplined returns reflects confidence in the GCC’s healthcare operators and the emergence of institutions capable of competing and investing at a global scale. The success of Cambridge Health Group in expanding from 260 beds in 2021 to beyond 1,000 beds today demonstrates the region’s capacity to build world-leading healthcare platforms from local foundations.

For Abu Dhabi specifically, the transaction reinforces the emirate’s position as a capital source and operational hub for sophisticated healthcare businesses. The investment in specialist care capabilities, whether through Cornerstone in the United Kingdom or through the expansion projects in Saudi Arabia and the UAE, strengthens the broader ecosystem of clinical excellence that underpins Abu Dhabi’s healthcare leadership and attracts healthcare talent and investment to the region.