Hyperbaric oxygen therapy is a medical treatment that involves breathing pure oxygen in a pressurized environment. Hyperbaric oxygen therapy is a well-established treatment for carbon monoxide poising and decompression sickness, a potential risk of scuba diving. Other conditions treated with hyperbaric oxygen therapy include serious infections, bubbles of air in your blood vessels, sudden sensorineural hearing loss and wounds that may not heal as a result of diabetes, radiation injury, or a compromised flap or graft.