The monastery was founded at the spring of Saints Cosmas and Damian, which has long been considered healing. Sick people were brought to it regardless of their faith, although there were no buildings for pilgrims or worship nearby. Nevertheless, by July 1, the feast day of Saints Cosmas and Damian, many people from all over Crimea came here every year. Invited priests blessed the water and conducted prayers. In the 1820s, Countess Sofia Pototskaya financed the construction of a shed for pilgrims at the spring.

On May 4, 1850, the Holy Synod informed Archbishop Innocent of the highest consent to open a kinovia at the spring of Saints Cosmas and Damian. On March 19, 1851, permission was granted for the allocation of land for the establishment of the Cosmo-Damian kinovia. However, the opening of the kinovia was delayed due to the Russo-Turkish War of 1853 and the landing of Anglo-French troops in Crimea in 1854. After the end of the Crimean War in 1856, Hieromonk Makariy was sent from the Bakhchisarai Assumption Skete, who later became the abbot. Together with Monk Ignatius, he began the construction of a small wooden church.

In 1869, a new large wooden church with an iron roof was built with donations. It had a cross-shaped form and stood on a stone foundation. The church was cold, with a two-tiered iconostasis. On June 20, 1870, it was consecrated in the name of Saints Cosmas and Damian. The small church was dismantled, and a wooden chapel was built over the spring in its place. Nearby, a bathing area was arranged, divided into men's and women's halves.

In 1874, a second monastery church was built in the name of the Transfiguration of the Lord. It was wooden, warm, with a two-tiered iconostasis. Both churches were furnished modestly.

From October 14 to 18, 1880, the kinovia was visited by the future Emperor Alexander III along with the future Empress Maria Feodorovna.

In 1891, a new stone chapel was built over the spring to replace the dilapidated wooden one, reaching up to the window frames, and above it, wooden. It was beautiful and convenient for worship, representing a small octagonal structure with a dome and cross. A spring of water flowed rapidly from the ground, enclosed in a stone column. The water flowed into a large wooden pool of the bathing area.

In 1897, the wooden bathing area was rebuilt and received a new iron roof. The bathing room and pool were divided into men's and women's halves. The water in the pool was always cold, 6-7 °C, but many pilgrims still bathed in it.

On August 1, 1899, it was announced that the men's kinovia would be transformed into a women's monastery.

During World War I, the nuns helped the front. The monastery, being in a remote corner of Crimea, did not experience serious upheavals. After the establishment of Soviet power, the monastery's property and land were nationalized. In 1923, the monastery was closed, and a colony for the disabled was created on its territory, which lasted until 1924. The churches were closed and transferred to the Crimean Nature Reserve, and the bells were removed. A nature museum was opened in the former temple, a club of the reserve in the Transfiguration Church, and an incubator for trout fry was arranged in the chapel with the bathing area. Other buildings were used as laboratories.

With the onset of the Great Patriotic War, the work of the reserve staff ceased. Before the arrival of German-Romanian troops, some staff managed to evacuate. German troops passed through the reserve management on November 6, 1941. To deprive partisans of shelter, the German-Romanian authorities decided to destroy all buildings on the reserve's territory. In November and December, barracks, stables, warehouses, the club, the museum, and other structures were burned, and the scientific library was looted.