A high pressure dilation medical device delivery catheter having a proximal and distal end comprising two tubes mounted generally concentrically about an inner tube. The balloons being characterized as a relatively short inner tube which is inflated with high pressure and a longer outer tube which is inflated with low pressure. The balloons have independent inflation lumens which extend toward the proximal end of the inner tube. A medical device mounting region is disposed about at least a portion of the outer balloon and may have a stent or other medical device mounted thereupon. A retractable outer sheath is further disposed about the medical device mounting region and is operatively connected near the proximal end of the catheter.