It was founded in 1773 by the
Quaker physician and philanthropist
John Coakley Lettsom for physicians, surgeons and apothecaries, who met to exchange medical news and confer about difficult cases. Lettsom served as president of the new society in 1775–1776, 1784–1785, 1809–1811 and 1813–1815.
James Sims was president from 1786 to 1808, and during his long term of office some members of the society, led by
William Saunders, became so offended by his autocratic style that in 1805 26 of them formed themselves into a new medical society, the
Medical and Chirurgical Society of London, which later merged with other medical specialist societies to form the
Royal Society of Medicine. The Society's wide appeal in the 18th century, the possession of a valuable library (originally purchased from Sims) and freehold property (donated by Lettsom) helped to ensure the society's success at that time. Originally based in the
City of London, it moved in 1873 to its present location in Lettsom House, Chandos Street, near
Cavendish Square in the heart of London's medical community. This early 19th-century building was originally owned by the Earl of Gainsborough, and is now also home to several related societies who share the facilities. The library has since been purchased by the
Wellcome Trust. ==Lectures and awards==