Founded in 1967 by Jose Olivares and his son-in-law, Dr. Vicente M. Santos, the university grew out of Our Lady of Fatima Hospital. The hospital became the primary provider of medical and health care services for Valenzuela. Olivares was an entrepreneur and previously a chemistry professor at Ateneo de Manila University and the University of the Philippines. Santos rose from humble origins in Hagonoy, Bulacan, graduated from the University of Santo Tomas, became an obstetrician-gynaecologist, and delivered over 96,000 babies during his 40 years of service.
The college seeks to promote the virtues of "Veritas et Misericordia" (Latin for truth and compassion). The founders set about improving the facility from a general hospital to a teaching hospital for health care providers such as nurses and midwives. This began in 1973 with the founding of Our Lady of Fatima College of Nursing.