In one embodiment, an implantable prosthetic valve includes a body that defines an inlet end and an inlet orifice, the body being constructed of a flexible biocompatible material, an outlet that extends from the body and that defines an outlet end and an outlet orifice, the outlet being constructed of a flexible biocompatible material, and an inner passage that extends through the body and the outlet from the inlet orifice to the outlet orifice to enable fluid to flow through the valve, wherein the outlet orifice is open when the valve is in its natural unloaded state and is closed when fluid pressure is applied to the outlet from a position downstream of the outlet.
