A balloon dilation and valve prosthesis delivery device is provided to treat a stenosed valve through balloon dilation and to deliver a valve prosthesis. The device includes an inner shaft assembly including an intermediate portion providing a coupling structure configured to selectively engage a prosthetic valve, and an outer shaft assembly including a delivery sheath capsule, and an expandable balloon attached to a distal end of the outer shaft assembly, and an inflation lumen extending along the length of the outer shaft assembly.