A delivery device for percutaneously deploying a stented heart valve prosthesis, the device including: an inner shaft assembly defining a distal tip, a proximal end, and an intermediate portion providing a coupling structure configured to selectively engage a stented heart valve prosthesis; a sheath forming a lumen sized to slidably receive at least the intermediate portion of the shaft, the sheath terminating at a distal region; and a tubular delivery capsule formed separately from the sheath, wherein the capsule includes a cut tube and defines: a proximal zone attached to the distal region of the sheath, a distal zone terminating a distal end, wherein the distal zone is configured to transition between a normal state and a flared state, a diameter of the distal end being greater in the flared state than in the normal state, the distal zone including a lattice segment and a base segment, wherein the lattice segment includes a plurality of generally longitudinally extending splines extending distally from the base segment to the distal end, and wherein adjacent pairs of splines (114a, 114b) are interconnected at their distal ends, wherein the capsule includes a shape memory component constructed to naturally assume the normal state; wherein the device is configured to slidably receive a stented heart valve prosthesis within the delivery capsule and is operable to perform a reversible partial deployment procedure in which a portion of the stented heart valve prosthesis is exposed distal the capsule and radially expands, followed by distal advancement of the capsule relative to the stented heart valve prosthesis whereby the distal zone transitions to the flared state and imparts a collapsing force onto the stented heart valve prosthesis, causing the stented heart valve prosthesis to radially collapse. an inner shaft assembly defining a distal tip, a proximal end, and an intermediate portion providing a coupling structure configured to selectively engage a stented heart valve prosthesis; a sheath forming a lumen sized to slidably receive at least the intermediate portion of the shaft, the sheath terminating at a distal region; and a tubular delivery capsule formed separately from the sheath, wherein the capsule includes a cut tube and defines: a proximal zone attached to the distal region of the sheath, a distal zone terminating a distal end, wherein the distal zone is configured to transition between a normal state and a flared state, a diameter of the distal end being greater in the flared state than in the normal state, the distal zone including a lattice segment and a base segment, wherein the lattice segment includes a plurality of generally longitudinally extending splines extending distally from the base segment to the distal end, and wherein adjacent pairs of splines (114a, 114b) are interconnected at their distal ends, wherein the capsule includes a shape memory component constructed to naturally assume the normal state; a proximal zone attached to the distal region of the sheath, a distal zone terminating a distal end, wherein the distal zone is configured to transition between a normal state and a flared state, a diameter of the distal end being greater in the flared state than in the normal state, the distal zone including a lattice segment and a base segment, wherein the lattice segment includes a plurality of generally longitudinally extending splines extending distally from the base segment to the distal end, and wherein adjacent pairs of splines (114a, 114b) are interconnected at their distal ends, wherein the capsule includes a shape memory component constructed to naturally assume the normal state; wherein the device is configured to slidably receive a stented heart valve prosthesis within the delivery capsule and is operable to perform a reversible partial deployment procedure in which a portion of the stented heart valve prosthesis is exposed distal the capsule and radially expands, followed by distal advancement of the capsule relative to the stented heart valve prosthesis whereby the distal zone transitions to the flared state and imparts a collapsing force onto the stented heart valve prosthesis, causing the stented heart valve prosthesis to radially collapse.