In a significant move for the Montenegrin health tourism sector, the shareholders of the “Dr Simo Milošević” Institute in Igalo have approved a comprehensive restructuring plan.
The assembly marked the beginning of a new era for the institute, which has long struggled under financial burdens, including €21.5 million in outstanding obligations.
The plan outlines capital injections from major stakeholders, including the Montenegrin government and the private company Vile Oliva, which will collectively resolve the debt and rejuvenate the facility.
In a strategic decision, the institute’s board confirmed that the first phase of the complex will not be sold, while the Children’s Department could be sold to fund local educational projects.
The restructuring promises to breathe new life into the institute, which is set to benefit from an estimated €88 million in new investments, turning it into a four-star wellness destination with annual profits of up to €6 million.
With government support and a clear vision for the future, this could be the rebirth of Montenegro’s flagship health tourism centre.
