BioMedical Engineering Project Idea: Wearable Health Monitor

This idea popped up in my mind while writing a new post for #-Link-Snipped-#. I believe electrical, electronics and/or bio-medical engineers might be interested in working on it. The idea is quite simple -

Design a device that a patient can wear. The device will continuously monitor various parameters like heart-beats, physiological data, including electrocardiography, respiration rate, temperature, blood pressure etc. via sensors and keep a check on patient's overall health.

If any of the monitored parameter exceeds the set levels, the device should automatically alert doctors or a central monitoring system, so that further action can be taken.

It'd be nice if it could have GPS data bundled for patient's location as well.

What do you think?