The Collaborative International Dictionary of English v.0.48:

Hematosis \Hem`a*to"sis\, n. [NL., fr. Gr. a"ima`twsis.]
   (Physiol.)
   (a) Sanguification; the conversion of chyle into blood.
   (b) The arterialization of the blood in the lungs; the
       formation of blood in general; h[ae]matogenesis.
       [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Arterialization \Ar*te`ri*al*i*za"tion\, n. (Physiol.)
   The process of converting venous blood into arterial blood
   during its passage through the lungs, oxygen being absorbed
   and carbonic acid evolved; -- called also a["e]ration and
   hematosis.
   [1913 Webster]