I think you mean photodetector. It is is a sensor of light or other electromagnetic energy.
The function of a photodetector is to detect the intensity of laser light and take that information and transfer it to a format usable by other products. A photodector transfers the information into electrical energy.
An oximeter (saturometer) is a device that reads oxygenation in the blood. Attached typically to a fingertip or earlobe, the oximeter sends light in two wavelengths through the blood to a photodector. By comparing the two wavelengths, the device determines the oxygen saturation of arterial blood. This non-invasive measurement is used in hospital settings to monitor patients suffering from respiratory or cardiac complications. Oximeters are also used by mountain climbers, and by outpatient rehabilitation concerns. While they do not provide a comprehensive idea of respiratory effectiveness, oximeters are becoming popular fitness devices. Along with pulse monitors, they can give a general idea of an exercise regimen's effectiveness by monitoring how much oxygen a person uses during particular exercises.