An implantable prostheticvalve (10), according to oneembodiment, comprises a frame (12),a leaflet structure (14), and a skirtmember (16). The frame can have aplurality of axial struts (20) interconnectedby a plurality of circumferentialstruts (22, 24). The leaflet structurecomprises a plurality of leaflets(e.g., three leaflets arrange to form atricuspid valve). The leaflet structurehas a scalloped lower edge portionsecured to the frame. The skirt membercan be disposed between theleaflet structure and the frame.