The Southwestern University College of Medicine was formally organized during the first semester of the school year 1947-48, a year after the University was founded by Don Matias H. Aznar. At that time, the Philippines was still under the grip of acute economic dislocation occasioned by the just concluded global conflict. It started with 14 pioneering students and 16 members of the faculty.
Full government recognition of the College of the Medicine was granted in 1954. The implementation of the Medical Act 1965 provided that all Medical Colleges in the Philippines be made into a foundation, thus a non-stock and non-profit institution. To comply with and implement the said act, the Southwestern University College of Medicine was converted into a foundation and was renamed Southwestern University Matias H. Aznar Memorial College of Medicine Incorporated