The former Roman town of Germane or Germania once stood at the location of modern Sapareva Banya and in the 3rd century was an important town in Dacia province. It was the birthplace of the great Byzantine general Belisarius and was mentioned in the 6th century as Γερμανία, Γερμανός, Γέρμεννε. In an 11th-century charter of Basil II, it was listed as Γερμάνεια. The modern name first appears as Bane in 1576. Later on, it was disambiguated by adding the name of the nearby village of Saparevo: the area is rich in mineral springs and many localities have similar names. Saparevo's name, first attested in 1570, is probably derived from the noun tsapar ("woodchopper"), from the dialectal verb tsaparim (цапарим), "to chop, to cut". Some authors suggest an etymology from the Thracian*Sapara.
Mineral water of Separeva banya was highly regarded and used as a cure by Thracians and Romans. Saparevian mineral water is clear, colorless, with smell of hydrogen sulfide, hyperthermal (temperature 103 °C), hydrocarbonate, sulphate-sodium, fluorine, silicon and sulphide. Hydrogen sulfide is 15,5 mg / L. It is claimed that the water treats disorders of the musculoskeletal system, nervous system, and upper respiratory tract, and metal poisoning.