International Wellness Group Limited - London files offer for acquisition of 56.4806% of Institite Dr Simo Milošević

Podgorica, Montenegro (8 May 2014) – At today's session, the Tender Commission for Privatisation opened the offer for the acquisition of 56.4806% of the Institute for Physical Medicine, Rehabilitation and Rheumatology “Dr Simo Milošević AD Igalo” submitted by the International Wellness Group Limited - London.

Based on the initial review of the bid, the Commission stated that:

1. The offered price for the acquisition of 56.4806% of the Institute amounts to EUR 10,025,306 (ten million twenty five thousand three hundred and six);
2. The planned investment programme for developing the existing and new facilities totals EUR 222 million;
3. The bidder plans to invest EUR 10,000,000 (ten million) in medical equipment over an 8-year period;
4. The bidder accepts the collective agreements that are currently in effect, provided they do not violate the Montenegrin laws and generally accepted international good practice related to employment.

The Tender Commission will evaluate the bidder’s formal validity and eligibility, as well as whether the company met the required conditions set out in the public tender.