An artificial valve for repairing a damaged heart valve having a plurality of cusps separating upstream and downstream regions. The artificial valve includes a flexibly resilient frame with a plurality of peripheral anchors for anchoring the frame in position between the regions. The frame includes a central portion located between the anchors. The valve includes a flexible valve element attached to the central portion of the frame having an upstream side and a downstream side opposite the upstream side. The valve element moves to an open position when fluid pressure in the upstream region is greater than fluid pressure in the downstream region to permit downstream flow. The valve element moves to a closed position when fluid pressure in the downstream region is greater than fluid pressure in the upstream region to prevent flow reversal. The valve may be used in beating heart procedures, avoiding cardiopulmonary bypass and cardioplegia.