A photoplethysmography (PPG) signal can provide very useful information about a subject's hemodynamic status in a hospital or home environment. A newly developed portable multi-spectral photoplethysmography device has been used for studies of 11 healthy subjects. Multi-spectral photoplethysmography (MS-PPG) biosensor intended for analysis of peripheral blood volume pulsations at different vascular depths has been designed and experimentally tested. Multispectral monitoring was performed by means of a three-wavelengths (405 nm, 660 nm and 780 nm) laser diode and a single photodiode with multi-channel signal output processing. The proposed methodology and potential clinical applications are discussed.