The multi-bounce laser microphone utilizes optical methods to detect the displacement of a gold-covered thin film diaphragm caused by ultrasound signal pressure waves. This sensitive all-optical sensing technique provides new opportunities for advanced ultrasound imaging as it is expected to achieve a higher detection signal-to-noise ratio (SNR) in a broader spectrum, as compared to conventional ultrasonic transducers. The technique does not involve signal time-averaging and the realtime enhancement in detection SNR stems from the amplification of signal strength due to multiple bouncing off the diaphragm. The system was previously developed for detecting acoustic signatures generated by explosives and were limited to lower than 10 kHz in frequency. To demonstrate its feasibility for biomedical imaging applications, preliminary experiments were conducted to show high fidelity detection of ultrasound waves with frequencies ranging from 100 kHz to in excess of 1 MHz. Experimental results are also presented in this work demonstrating the improved detection sensitivity of the multi-bounce laser microphone in detecting ultrasound signals when compared with a commercial Fabry-Perot type optical hydrophone. Furthermore, we also applied the multi-bounce laser microphone to detect photoacoustic signatures emitted by India ink when a LED bar is used as the excitation source without signal averaging.