A pulse oximeter uses light to measure the oxygen saturation level in a patient's blood. It works by passing light through tissue and measuring how much light is absorbed. The document describes the circuit design of a pulse oximeter, including an LC oscillator to generate a 5kHz signal, filters to isolate the desired frequency, amplifiers to boost the signal, and a comparator to generate a square wave output. It discusses the principles of operation, gain levels, sensitivity achieved, and challenges in simulating and implementing the circuit. The goal is to create a low-cost heart rate monitor using common amplifier and filter components.