Provides a constant flow of oxygenated blood which allows for higher endurance, longer "holding of breath", and in the case of severe injury, oxygenated blood circulation to prevent death (unless there is catastrophic blood loss which moots the machine's ability)....
Recall all the famous designs of Cyborgs [and The Borg] with the tubes running into their face/head/nose - the tubes could be pumping externally oxygenated blood to the vitals which would suffer most in catastrophic physical unplanned destruction events.