A safety catheter includes a flexible, multi-lumen shaft having an outer diameter, a distal tip, a proximal catheter end with a drain end and a proximal inflation end. The multi-lumen shaft defines a drain lumen, a distal hollow balloon portion, at least one inflation lumen, and a drainage port. A hollow stretch valve is coaxially disposed in the drainage lumen, has a fixed portion within the drainage lumen just proximal of an increased stretching portion, and prevents fluid from passing through the drainage port in a steady state. The stretch valve has a sliding portion slidably disposed within the drainage lumen such that, in a stretched state when the proximal catheter end is stretched, the sliding portion slides within the drainage lumen to permit fluid to pass through the balloon drainage port and/or inner wall of the catheter.