The Dr Simo Milošević Institute has recorded a positive financial result in the first half of 2025, reversing last year’s €1.5 million loss to achieve a surplus of around €900,000. The improvement is attributed to higher patient numbers and overnight stays, increased prices for publicly funded treatments, the sale of the Children’s Department, and reduced expenses.
According to Executive Director Dr Zoran Kovačević, the number of users rose 28% year-on-year to 5,911, with overnight stays up 31% to 70,500. Domestic stays grew 33% to 62,185, while foreign stays increased 18% to 8,316, driven mainly by growth from regional markets such as Bosnia and Herzegovina (+18%), Serbia (+8%), and Croatia (+33%).
Revenue from services rose from €3.5 million to €5.67 million, of which about €5 million came from hospital treatment. Total income exceeded €9.5 million, including proceeds from the sale of the Children’s Department, while expenses fell from €5.3 million to €4.86 million. Salaries have been paid regularly, in full net amounts over the past three months.
The Institute employs about 520 staff. While the Second Phase continues to provide medical rehabilitation, the older First Phase facility has been partially opened for budget accommodation this summer, including seasonal worker housing.
A recapitalization process is underway, with majority shareholders — including state funds and HTP Vila Oliva — offering to buy out small shareholders. Following this and planned investments, around €21 million in outstanding obligations will be settled, paving the way for facility renovations and upgrades to medical services under the restructuring plan.
Kovačević noted that aging infrastructure poses challenges, especially during summer heat, but said operational stability has been maintained. Looking ahead, management aims to re-engage traditional foreign partners, though a return to Scandinavian markets, particularly Norway, is not expected before at least late 2026.
