The measurement of blood component concentrations is of great interest for medical applications such as anaesthetizing monitoring, heart disease evolution, respiratory insufficiency, etc. The common system is the spectroscopic analysis of blood samples. Analyzing the absorption versus wavelengths permits the determination of blood component concentrations by comparison to the theoretical extinction coefficients of the investigated components. The functional saturation rate of oxyhemoglobin HbO2 called SfO2 is therefore accessible. A new system is presented in this paper utilizing three laser diodes at wavelengths 660, 830, and 1060 nm. We have, therefore, access to a supplementary parameter which is the concentration of carboxyhemoglobin HbCO. The set-up can be portable because it utilizes small light sources, optical fibers, and integrated electrical supply and signal processing device. The performances reach a SfO2 resolution of 2% and 1% on HbCO measurement.