Phi Alpha Gamma was founded at the New York Homeopathic Medical College, March 25, 1894, by Thomas D. Buchanan, Thomas F. Davies, Edmund M. De Vol, Robert M. Jones, Brooks DeF. Worwood, Arthur B. Smith and Harry S. Willard. Beta chapter was founded at the Boston University School of Medicine

Boston University School of Medicine

Boston University School of Medicine is one of the graduate schools of Boston University. Founded in 1848, the medical school holds the unique distinction as the first institution in the world to formally educate female physicians. Originally known as the New England Female Medical College, it was...

, November 26, 1896. In January, delegates from these chapters met delegates from a similar society called KT, which had been established the month before at the Hahnemann Medical College of Philadelphia, and the societies were joined under the name of ΦAΓ. The Minnesota and Iowa chapters were formed from the two chapters of a fraternity called ΠKT, established with the view of confining it to homeopathic schools of medicine.

ΦAΓ had active chapters in New York (Alpha) and Philadelphia (Gamma) in 1947. Preliminary details of amalgamation between Phi Alpha Gamma and Phi Chi Medical Fraternity had been worked out by Dr. Albert Saunders of Phi Chi and these the Phi Chi National Convention of 1947 approved with instructions to the Executive Trustees to complete the merger.

The Phi Alpha Gamma merger was completed on February 21, 1948, when Phi Alpha of Phi Chi at New York Medical College

New York Medical College

New York Medical College, aka New York Med or NYMC, is a private graduate health sciences university based in Westchester County, New York, a suburb of New York City and a part of the New York Metropolitan Area...

 and Phi Alpha Gamma at Hahnemann Medical College in Philadelphia were installed. At the annual Founders' Day Banquet of the Phi Chi Alumni Association in New York, with members from Alpha Mu, Rho Delta and Upsilon sigma attending, 48 charter members of Phi Alpha were initiated by Dr. Jacob E. Reisch. At that same time, seven members of the then existing Gamma chapter of Phi Alpha Gamma traveled to New York to be initiated into Phi Chi. This event ceremonially completed the merger of Phi Alpha Gamma and Phi Chi, which had been agreed upon by the official bodies of each Fraternity.

The ΦAΓ Fraternity consisted of the following chapters before merging with ΦΧ:

Chapter	Location	Dates
A	New York Homeopathic Medical College	1894–1948	Became Phi Alpha of Phi Chi Phi Chi Phi Chi is one of the oldest and largest international medical fraternities of its kind in the world. Phi Chi evolved from the merging of two professional medical fraternities bearing the same name. Phi Chi Society was founded on March 31, 1889, at the University of Vermont, Burlington, Vt...
B	Boston University School of Medicine Boston University School of Medicine Boston University School of Medicine is one of the graduate schools of Boston University. Founded in 1848, the medical school holds the unique distinction as the first institution in the world to formally educate female physicians. Originally known as the New England Female Medical College, it was...	1896-1921	Became Beta Upsilon of Phi Chi Phi Chi Phi Chi is one of the oldest and largest international medical fraternities of its kind in the world. Phi Chi evolved from the merging of two professional medical fraternities bearing the same name. Phi Chi Society was founded on March 31, 1889, at the University of Vermont, Burlington, Vt...
Γ	Hahnemann Medical College of Philadelphia	1897-1948	Became Phi Alpha Gamma of Phi Chi Phi Chi Phi Chi is one of the oldest and largest international medical fraternities of its kind in the world. Phi Chi evolved from the merging of two professional medical fraternities bearing the same name. Phi Chi Society was founded on March 31, 1889, at the University of Vermont, Burlington, Vt...
Δ	University of Minnesota University of Minnesota The University of Minnesota, Twin Cities is a public research university located in Minneapolis and St. Paul, Minnesota, United States. It is the oldest and largest part of the University of Minnesota system and has the fourth-largest main campus student body in the United States, with 52,557...	1897-1909	School Closed
E	University of Iowa University of Iowa The University of Iowa is a public state-supported research university located in Iowa City, Iowa, United States. It is the oldest public university in the state. The university is organized into eleven colleges granting undergraduate, graduate, and professional degrees...	1897-1900	School Closed
ZΘ	Ohio State University Ohio State University The Ohio State University, commonly referred to as Ohio State, is a public research university located in Columbus, Ohio. It was originally founded in 1870 as a land-grant university and is currently the third largest university campus in the United States...	1897-1922	School Closed
H	Chicago Homeopathic Medical College	1897-1900	United with Λ 1900
Θ	Pulte Medical College of Cincinnati	1899-1901	Charter revoked
I	Homeopathic Medical College of Missouri	1899-1909	School Closed
K	University of Michigan University of Michigan The University of Michigan is a public research university located in Ann Arbor, Michigan in the United States. It is the state's oldest university and the flagship campus of the University of Michigan...	1900-1922	School merged with U of M Medical School
HΛ	Hahnemann Medical College of Chicago	1900-1918	School Closed
M	Hahnemann Medical College of the Pacific	1906-1915	School merged with U of California
IN	Kansas City Hahnemann Medical College	1906-1916	School Closed

The Phi Alpha Gamma Quarterly- annual publication begun in 1902

The badge of the fraternity is a middle phalanx of the little finger of a human hand, mounted in gold, with the letters ΦAΓ in gold upon a field of black enamel. The color of the fraternity is violet, and its flower is the violet.