Amanat Holdings expands into UK specialist care with Cornerstone Healthcare acquisition

UAE—Amanat Holdings has completed the acquisition of UK-based Cornerstone Healthcare Holdings Limited through its subsidiary, Cambridge Health Group (CHG), expanding its specialist care operations and total capacity beyond 1,000 beds.

The transaction supports Amanat’s July 2026 strategy to invest approximately $410 million across its healthcare and education businesses, targeting a return on equity of at least 10%.

Capital deployment and expansion

Following the acquisition, Amanat’s completed and committed investments total approximately US$246 million, representing 60% of its capital deployment target.

These investments include acquiring minority interests in CHG, expanding Cambridge Hospital in Jeddah by 68 beds, developing a 155-bed integrated care hospital in Riyadh and acquiring Cornerstone.

Amanat Chairman Dr Ali bin Harmal Aldhaheri said the acquisition builds on CHG’s established operations in the UAE and Saudi Arabia, adds specialist care capabilities, and establishes a presence in the UK.

He said the company would continue to pursue complementary investments while maintaining disciplined capital allocation and targeting sustainable shareholder returns.

The acquisition consideration includes an initial enterprise value of about $92 million, plus up to $6.5 million in additional performance-linked payments.

The total potential enterprise value is approximately US$98 million.

Amanat funded the transaction with internal resources and expects returns above CHG’s investment threshold.

UK specialist care operations

Cornerstone operates four specialist care homes with 283 beds across southern England.

Its services support people with complex dementia, neuroprogressive conditions, severe mental illness, acquired brain injuries and neurorehabilitation needs.

The company works with NHS Integrated Care Boards and local authority commissioners, providing access to established public-sector care commissioning arrangements.

Its recent expansion included the opening of The Burren, a 78-bed facility in Bristol, in 2025.

Revenue from its existing homes grew at a compound annual growth rate of nearly 10% over the past three years.

Cornerstone expects to generate approximately US$47 million in revenue and US$9 million in earnings before interest, taxes, depreciation and amortisation (EBITDA) in 2027.

Its growth plans include increasing occupancy at the Bristol facility, expanding into higher-acuity acquired brain injury and intermediate care services, and entering additional locations.

The expansion comes amid a structural shortage of specialist care capacity in the UK, where public-sector commissioning and statutory funding arrangements support demand for services for people with complex needs.

Cambridge Health Group’s growth plans

Since 2021, CHG has increased its capacity from approximately 260 beds to more than 700 licensed beds across the UAE and Saudi Arabia.

It has invested or committed approximately US$218 million to existing operations and development projects, including its Jeddah expansion and Riyadh facility.

Amanat plans to increase CHG’s total capacity beyond 1,500 beds over the medium term through organic growth, new facilities and selective acquisitions.

Amanat Chief Executive Officer John Ireland said Cornerstone brings an experienced team, complementary clinical expertise and an established growth plan.

He said combining these capabilities with CHG’s operations and development pipeline in the Gulf Cooperation Council region would expand the group’s specialist healthcare offering.

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