Oxygen transfer in the catalyst membrane oxygenator is not limited by diffusion through the blood-membrane boundary layer. Instead, oxygen transfer occurs at a rate independent of blood flow conditions and is evenly distributed over the membrane surface. Shear-induced mixing combined with high boundary O2 layer gradients are the mechanisms of transfer. 2) The rotating disk design provides very high level oxygen transfer. However, H2O2 concentration, blood flow rate, and disk rotation rate must be adjusted so that excess O2 supersaturation in the blood-membrane boundary does not lead to significant bubble formation. 3) The catalyst membranes used in the hemodialysis-based oxygenator have been industrially produced. 4) Effective CO2 transfer can be carried out across a hemodialysis type of membrane as previously reported. 5) The catalyst membrane oxygenator as studied in the dog performs well for 3-5 hrs, at which time inhibition of the catalyst leads to H2O2 breakthrough which causes methemoglobin formation. The mechanisms of catalyst inhibition and ways for its prevention are under study. 6) The catalyst membrane oxygenator offers the advantages of simultaneous artificial kidney treatment. This feature may be of help in maintaining acid-base balance and treating edema states.