An implantable valve assembly including a drainage catheter 100 having a central lumen transitioning into a plurality of distinct branch lumen 120A, 120B made of a shape memory material. A bioabsorbable dip coating 115 secures the distal end of the plural distinct branch lumen together in physical contact with one another. Each branch lumen has an outer perimeter comprising at least one of a first outer surface section and a second outer surface section. In a secured state with the plural distinct branch lumen held together by the dip coating fluid is prohibited from passing through the holes defined in the first outer surface section. Bioabsorbable blocking members 130 disposed about the outer perimeter of the assembled branch lumen mask holes defined in the second outer surface section prohibiting fluid from entering therein. In a time staggered fashion, the bioabsorbable elements absorb exposing new holes through which the fluid drains.
