Kakasaheb Mhaske Memorial Foundation was formed in the memory of Late Kakasaheb Mhaske alias Kisanrao Balaji Mhaske eminent & well known M. L. A. in Ahmednagar district. The trust was established in the year 1983 under Bombay Public Charitable Trust Act 1950. Kakasaheb Mhaske Memorial Medical Foundation is renowned Medico-social organization working in Ahmednagar district since 1983.
The college is also running Post Graduate course in Homoeopathy (M. D. Homoeopathy) since 2002 MD (hom) regular courses are run by the institution.
Kakasaheb Mhaske Memorial Medical Foundation has earmarked 18 acres of land in this city of Ahmednagar for the college, Hospital & purchased three plots – 1) Vatephal on Solapur Highway 2) Takali Kazi, Jamkhed Road 3) Pandhari Pool, Aurangabad Road nearly the city for Rural Hospital. At present college the stands on a three storeyed buildings, which comprises all the required departments, Lecture halls, Library reading hall for UG & PG students and teachers, Computer Lab etc.