Amanat tightens grip on Gulf rehabilitation care

Amanat Holdings has completed its takeover of Cambridge Health Group after buying the remaining 10.03 per cent stake for AED105 million, giving the Dubai-listed healthcare and education investor full control of one of the Gulf’s largest post-acute and rehabilitation care platforms.

The transaction closes a phased acquisition process that accelerated this month, when Amanat first raised its holding in Cambridge Health Group from about 87 per cent to 90 per cent through the purchase of an additional stake of about 3 per cent from an existing minority shareholder. The latest deal takes ownership to 100 per cent and gives Amanat wider operational flexibility as it expands a business positioned at the centre of rising demand for long-term care, inpatient rehabilitation and post-hospital recovery services across the region.

Cambridge Health Group operates a network spanning the UAE and Saudi Arabia, with six hospitals and total bed capacity of 715, including 666 licensed beds. Its platform includes Cambridge Medical and Rehabilitation Centre and Sukoon, which was merged into Cambridge Health Group in 2023 to create a larger pan-GCC post-acute care provider. The group’s services cover complex rehabilitation, long-term care, transitional care and specialised clinical support for patients who no longer require acute hospital treatment but need structured recovery or continuing medical supervision.

The full acquisition strengthens Amanat’s healthcare portfolio at a time when post-acute care is becoming a more prominent part of regional healthcare planning. Ageing populations, higher survival rates after complex procedures, chronic disease prevalence and pressure on acute hospital beds have increased the need for dedicated rehabilitation and long-term care capacity. Across the GCC, more than 12,000 additional hospital beds are expected to be needed between 2024 and 2029, while Saudi Arabia is forecast to account for the majority of new requirements as its healthcare system expands under Vision 2030.

Cambridge Health Group reported revenue of AED404 million in 2025, up 11 per cent year on year, while EBITDA rose 14 per cent to AED100 million. Growth accelerated in the first quarter of 2026, with revenue up 27 per cent, EBITDA rising 49 per cent and profit increasing sixfold from the same period a year earlier. The performance has been driven by higher patient volumes, new licensed capacity and stronger utilisation in Saudi Arabia, where Amanat has been deploying capital to build scale.

Amanat’s latest move also follows a series of expansion steps within the Cambridge Health Group network. Cambridge Hospital Jeddah has expanded to 200 beds after refurbishment and is operating at more than 95 per cent utilisation. A further expansion of about AED100 million has been approved for the Jeddah facility, adding rehabilitation, outpatient and surgical capabilities and increasing inpatient rehabilitation capacity. The project is scheduled to launch in the first quarter of 2028 and is expected to broaden the group’s service mix in Saudi Arabia.

Cambridge Hospital Khobar, a 150-bed long-term care and post-acute rehabilitation facility, opened in November 2024 and has been ramping up through 2025 and 2026. During the first quarter of 2026, 41 additional beds were licensed in Khobar, taking licensed capacity there to 101 beds. Another 57 beds are expected to be licensed across Khobar and Dhahran during 2026. Amanat has deployed more than AED500 million across the Cambridge Health Group network to date, with much of the capital directed towards Saudi Arabia.

Dr Ali Saeed bin Harmal Aldhaheri, Amanat’s chairman, said completing the full acquisition marked “a defining moment” for the company and reflected its commitment to one of the most compelling healthcare businesses in the GCC. John Ireland, Amanat’s chief executive, said full ownership would allow the company to move faster in scaling the platform and capturing growth in a specialist segment where demand is structurally supported by demographic and healthcare trends.

For Amanat, the transaction comes after a stronger start to 2026. The company reported first-quarter revenue from continuing operations of AED298.5 million, up 24 per cent year on year, while EBITDA increased 27 per cent to AED106.5 million and profit rose 44 per cent to AED72.9 million. Cash and bank balances stood at about AED1.39 billion at the end of March, giving the group scope for further capital deployment across healthcare and education.