The Medicals Cooperative Multipurpose Society Ltd popularly known by majority as LASCOMED came into being in year 1992 after some strategic pre-inaugural meetings of various head of units in the Lagos State Hospital Management Board over the need to set up a cooperative society that will serve the financial needs of senior staff members of the board.
The meetings were successful and thus the birth of Lagos state Management Board Staff Cooperative Thrift and Credit Society Ltd, the staff that came together as pioneer members nominated some members to be the management committee. The pioneer board of trustees were Late. Dr. S.A. Sadiq – President, Alhaja. A.A. Ajala – Vice President, Mrs. T.O. Olupitan, – General Secretary, and Mrs. A.A. Adeniyi – Treasurer and others that were Ex-Officio.
The membership of the society grew fast within one year of its existence in 1993 because of the dedicated and selfless effort of the founding members and executives who see to the welfare of members by ensuring they get credit and loan facility on time to meet their economic and social needs and aspirations.
In the space of 10 years of establishment members increased exponentially and their needs became diversified and they want more from their society which later metamorphosed into a Cooperative Multipurpose Society in 2005 to legally go into other ventures as required by its members whom their needs have become diversified. They have helped members cultivate the habit of saving regularly, managed their loans and a consumer shop was established then at Adeniji Adele area of Lagos Island which is now moved and situated at the then office in Broad Street but now at 125, Tokunboh Street, Lagos to meet members’ commodity needs. Also they now have a Bakery Factory at same place. They also acquire a very large expanse of land for their members at Badagry, and Erunwen Ekiti, Ikorodu a suburb of Lagos State where they started their LASCOMED ESTATE housing project for the members’ benefit.
Today, LASCOMED has over 3,600 members whom the leaders serve well and have led to them winning so many Awards in the state and nationally. LASCOMED and its leadership is now the toast of every co-operative in Lagos State because it’s a reference point to other cooperatives. They have a vision to be the reference model for cooperatives in Nigeria.
LASCOMED believing in the principles of Co-operation among Co-operatives is a member society of Lagos Island Multipurpose Cooperative Union Ltd (LIMCU), Lagos State Cooperative Finance & Investment Society Ltd (LASCOFIS) and the Lagos State Cooperative Federation Ltd (LASCOFED) the Apex body of Co-operatives in Lagos State.
In 2019, the government regulatory body came up with a new policy that cooperative societies in Lagos state should stop using LAGOS STATE as part of their names thereby making the leadership to apply for a change of name of the society from The Lagos State Hospital Management Board Senior Staff Cooperative Multipurpose Society Ltd to now “The Medicals Cooperative Multipurpose Society Ltd” all known as LASCOMED.
LASCOMED right from inception has been blessed by God Almighty with Leaders that has foresight people with great vision and ready to serve their members dedicating their life to the growth and development of the society. Find below the list of past and present leaders;
| S/N | PRESIDENTS | POSITION | YEAR |
| 1. | Late. Dr. S.A. Sadiq | Pioneer President | 1992 – 2001 |
| 2. | Mrs. A.A. Ajala | President | 2001 – 2004 |
| 3. | Pharm. J.O. Oyelakin | President | 2004 – 2006 |
| 4. | Dr. A.O. Bello | President | 2006 – 2008 |
| 5. | Mrs. R.K. Etti-Osiorbor-Diamond | President | 2008 – 2012 |
| 6. | Mrs. O.T. Sikaye | President | 2012 – 2017 |
| 7. | Mr. J. O. Dina | President | 2017 – 2019 |
| 8. | Mrs. M. O. Bakare | Incumbent President | 2019 Till Date |
| VICE PRESIDENTS | |||
| 1. | Alhaja. A.A. Ajala | Pioneer Vice President | |
| 2. | Pharm. O.K. Munis | Vice President | |
| 3. | Dr. A.O. Bello | Vice President | |
| 4. | Mr. O. Siyanbola | Vice President | |
| 5. | Mr. A.R. Akinola | Vice President | |
| 6. | Mr. Hamzat A. A. | Vice President | |
| 7. | Dr. Lawal O. S. | Vice President | |
| GENERAL SECRETARIES | |||
| 1. | Mrs T.O. Olupitan | Pioneer Gen. Secretary | |
| 2. | Mr. O.O. Ojikutu | General Secretary | |
| 3. | Pharm. J.O. Oyelakin | General Secretary | |
| 4. | Mrs. O.A. Enigbokan | General Secretary | |
| 5. | Mrs. O.T. Sikaye | General Secretary | |
| 6. | Mr. J.A.O. Dina | General Secretary | |
| 7. | Mrs. B.T. Olubajo | General Secretary | |
| 8. | Mrs. O. S. Adewunmi | General Secretary | |
| TREASURERS | |||
| 1 | Pharm. A.A. Adeniyi | Pioneer Treasurer | |
| 2. | Late. Mrs. H.A. Odusanwo | Treasurer | |
| 3. | Mrs. R.K. Etti-Osiobor-Diamond | Treasurer | |
| 4. | Mrs. O.T. Sikaiye | Treasurer | |
| 5. | Mr. J.A.O. Dina | Treasurer | |
| 6. | Mrs B. T Olubajo | Treasurer | |
| 7. | Mr. Hamzat A. A. | Treasurer | |
| FINANCIAL SECRETARY | |||
| 1 | Bakare M. O. | Fin. Secretary | |
| 2, | Mrs. O. A. Ojo | Fin. Secretary | |
| ASSITANT SECRETARIES | |||
| 1. | Mr. O.O. Ojikutu | Pioneer Assistant Sec. | |
| 2. | Pharm. J.O. Oyelakin | Assistant Secretary | |
| 3. | Mr. J.A. Anjou | Assistant Secretary | |
| 4. | Mr. J.A.O. Dina | Assistant Secretary | |
| 5. | Mrs. B.T. Olubajo | Assistant Secretary | |
| 6. | Mr. A.R. Akinola | Assistant Secretary | |
| 7. | Mrs. M.O. Oshodi-Bakare | Assistant Secretary | |
| 8. | Mr. Aina O. A. | Assitant Secretary | |
| 9 | |||
| EX-OFFICIOS | |||
| 1. | Mrs. R.O. Olofin | Ex-Officio | |
| 2. | Late. Mrs. C.O. Okunnu | Ex-Officio | |
| 3. | Mr. J.I.O. Badmus dtu | Ex-Officio | |
| 4. | Mr. O. Babalola | Ex-Officio | |
| 5. | Mrs. L.O. Adebisi | Ex-Officio | |
| 6. | Mr. O. Siyanbola | Ex-Officio | |
| 7. | Mrs. J.M. Osinowo | Ex-Officio | |
| 8. | Mrs. O. Okubanjo | Ex-Officio | |
| 9. | Mrs. A. Adedoyin | Ex-Officio | |
| 10. | Mrs.B.T. Olubajo | Ex-Officio | |
| 11. | Mrs. M.O. Oshodi-Bakare | Ex-Officio | |
| 12. | Mrs. F.I. Oladimeji | Ex-Officio | |
| 13. | Mrs. M.M. Ogundare | Ex-Officio | |
| 14. | Dr. A.O. Lawal | Ex-Officio | |
| 15. | Mrs. O.O. Ojo | Ex-Officio | |
| 16. | Mr. A.A. Amusa | Ex-Officio | |
| 17. | Mr. A.O. Aina | Ex-Officio | |
| 18. | Mrs. G.A. Olanegan | Ex-Officio |