The 2019 Tour de France winner was riding his time trial bike in Gachancipá with other Ineos riders, including Richard Carapaz and Dani Martínez, when he rode directly into the back of a bus that is reported to have pulled over to allow passengers to disembark.
Bernal was treated at the scene initially by team staff before being taking to the Clinica Universidad de La Sabana in Bogotá, where he was twice operated on.
The injuries are serious and complex, with the 25-year-old suffering cervical and thoracic trauma and musculoskeletal trauma.
Ineos Grenadiers released an update on Wednesday afternoon: "Following yesterday’s training accident, Egan remains in a stable condition in intensive care after two successful surgeries," it said.
"Egan suffered a fractured vertebrae, a fractured right femur, a fractured right patella, chest trauma, a punctured lung and several fractured ribs in the crash.
"Doctors were able to medically pin his right leg and stabilise the vertebrae fracture in two separate surgeries last night. He is now in an intensive care unit where other potential secondary injuries are being managed, as well as his body’s response to the trauma.
"The team would like to thank the medical staff at Clinica Universidad de La Sabana and everyone who has sent messages of support to Egan. All of our focus is on ensuring Egan is given the best possible care as he starts on his road to recovery. "
It has been reported elsewhere, including in the Colombian newspaper El Tiempo, that surgeons stabilised the spinal fractures and placed an instrumentation between his T3 and T8 vertebrae, that specific injury worrying doctors the most.
El Tiempo also reported that Bernal has bleeding on his chest, and a further operation will take place to control that.
The injury has prompted an outpouring of well-wishes across the globe for the 2021 Giro d'Italia champion, with current and former riders expressing their horror at the incident and wishing him a full and speedy recovery.
Three-time world champion Peter Sagan said he hoped the Colombian would bounce back stronger than ever.
I'm sending @Eganbernal my warmest wishes for a speedy recovery. Egan, I look forward to seeing you bounce back stronger than ever and sharing the road with you wherever we race!January 25, 2022
Thank you for reading 20 articles this month* Join now for unlimited access
Enjoy your first month for just £1 / $1 / €1
*Read 5 free articles per month without a subscription
Join now for unlimited access
Try first month for just £1 / $1 / €1