It works in co-operation with the Osler Library of the History of Medicine at McGill University and consists of a group of physicians, medical historians, and other related professions united by "the common purpose of keeping alive the memory of Sir William Osler".

John P. McGovern, from Houston, Texas, and Alfred Henderson from Washington, were concerned over the perceived lessening humane effect of science on medical education and the increasing threat of technology.

[1][3][4] The statement of purpose;[1] The purpose of the Society is to unite, into an organized group, physicians, and others allied to the profession, with a common interest in memorializing and perpetuating the lessons of the life and teachings of William Osler; to meet periodically for the purpose of presentation and discussion ofpapers on the life and influence of Osler upon the profession, and to publish these essays as a Proceedings of the Society; to continually place before the profession a reminder of the high principles of life and humanism in practice of Osler, and to introduce these things to those entering the profession.Osler's Oxford students, Wilburt C. Davison, Emile Holman, and Wilder Penfield, were named the three Honorary Members.

[5][6] The society works in co-operation with the Osler Library of the History of Medicine at McGill University and consists of a group of physicians, medical historians, and other related professions united by the aim of keeping Osler's memory.

[1][8][9] Between 1970 and 2007, the society had witnessed over 700 presentations, of which about half have been centred around Osler's personal and professional life.