Abstract: A dilation catheter suitable for use in medical procedures is provided. The catheter includes a balloon disposed on an elongated tube. The tube is capable of passing fluid between the balloon and the tube for varying the balloon between an inflated expanded condition and a deflated collapsed condition. The balloon includes a longitudinally extending septum which cooperates with the exterior skin of the balloon to separate the balloon into a plurality of substantially equally sized chambers. The septum further cooperates with the balloon to form at least one longitudinally extending channel disposed outwardly of the exterior surface between adjacent chambers of the balloon. The channels allow blood to be perfused past the balloon when the balloon is disposed in a body vessel in its expanded condition.