This study aims to develop a photothermal imaging system through a coherent infrared bundle. This system will be used to determine the oxygenation level of various tissues, suspected malignant tissues in particular. The oxygenation estimation is preformed using a computerized algorithm. In order to evaluate the system, different bundle configurations were used for the determination of the optimal one. Bundle transmittance and the algorithm's estimation ability were measured, measurements were performed using agar phantoms consisting of varying ratios of Methylene Blue and ICG. A bundle consisting of 19 Teflon waveguides with a of 1.1mm was found to be the optimal configuration with an RMS of the error of 9.38%. At a second stage the system was validated on blood samples with varying oxygenation levels and there oxygenation levels were estimated. This stage had an RMS of the error of 10.16% for the oxygenation level estimation for samples with a 50% oxygenation level and higher. Once the basic system was validated successfully on agar phantoms and blood samples a portable system was designed and built in order to fit the system for portable use. The portable system consists of a white light illuminating source followed by filters transmitting certain wavelengths, a transmitting fiber, a thermal imaging bundle and a portable thermal camera. This portable system will be evaluated in order to have an adequate portable system for implementing the method out of the lab.