For contactless monitoring of ventilation and heart activity, magnetic induction measurements are applicable. As the technique is harmless for the human body, it is well suited for long-term monitoring solutions, e.g., bedside monitoring, monitoring of home care patients, and the monitoring of persons in critical occupations. For such settings, a two-channel portable magnetic induction system has been developed, which is small and light enough to be fitted in a chair or bed. Because demodulation, control, and filtering are implemented on a front-end digital signal processor, a PC is not required (except for visualization/data storage during research and development). The system can be connected to a local area network (LAN) or wireless network (WiFi), allowing to connect several devices to a large monitoring system, e.g., for a residential home for the elderly or a hospital with low-risk patients not requiring standard ECG monitoring. To visualize data streams, a Qt-based (Qt-framework by Nokia, Espoo, Finland) monitoring application has been developed, which runs on Netbook computers, laptops, or standard PCs. To induce and measure the magnetic fields, external coils and amplifiers are required. This article describes the system and presents results for monitoring respiration and heart activity in a (divan) bed and for respiration monitoring in a chair. Planar configurations and orthogonal coil setups were examined during the measurement procedures. The measurement data were streamed over a LAN to a monitoring PC running Matlab (The MathWorks Inc, Natick, MA, USA).