Nanoparticle-coated medical devices, nanoparticle-containing formulations and methods of using for treating a vascular disease are disclosed. The method for treating a vascular disease includes providing a formulation comprising a plurality of nanoparticles having a density different from that of blood and further comprising one or more bioactive agents encapsulated within, adhered to a surface of or integrated into the structure of the nanoparticles; and administering a therapeutically effective amount of the formulation to a vascular disease locale in a patient.