The article describes stages of medical education development in the chronological order and discusses the principal models of university organization and the process of evolution of scientific approaches to their formation throughout history. Preconditions for reviewing approaches to a subsequent change in the model of university education and direction of the search at the core of the modern educational concept are enumerated. Advantages and shortcomings of third-generation universities formed under the effect of the industrial revolution are separately discussed. The value and role of the university at the modern stage of society and economy development are being considered. It is concluded that educational needs require fundamental transformation, selection of the widest specter and most qualitative level, implemented scientific and educational programs, search for new approaches to mass and elite education. State support, protection, commercialization of knowledge, interdisciplinary integration and cooperation with the leading companies and research structures as part of national scientific laboratories will enable transfer of technologies to develop a new generation university that corresponds to modern tasks and needs of the country intensive development.