The invention relates to a coating comprising a biodegradable polymer comprising at least two different functional groups pendant to the polymer backbone, which functional groups are selected from the group of carboxyl-, amine, hydroxyl, ester, amide-, thiol- or thioester groups. The two different functional groups comprise at least an unprotected hydrophilic functional group chosen from a carboxyl-, amine, thiol or hydroxyl group and at least a protected hydrophobic functional group chosen from an ester, amide- or thioester group. The invention further relates to an implantable device comprising the coating composition. The implantable device is includes cardiac pacemakers and defibrillators; leads and electrodes for the preceding, organ stimulators such as nerve, bladder, sphincter and diaphragm stimulators, prostheses, rods, vascular grafts, self-expandable stents, balloon-expandable stents, stent-grafts, grafts, catheters, artificial heart valves and cerebrospinal fluid shunts.