Deceuninck - Quick-Step have confirmed Mark Cavendish suffered two broken ribs and a collapsed lung in the high-speed crash he was involved in at the Ghent Six on Sunday night.
Cavendish was taken to Ghent University Hospital on a stretcher, where he spent the night in an ICU.
A Deceuninck - Quick-Step statement said: "Examinations showed that Mark has suffered two broken ribs on this left side and has a small pneumothorax, both of which have been treated with medication and he has been kept in the hospital for observation.
"It is expected that Mark will be discharged either later today or tomorrow morning, and will then undergo a period of recuperation.
"Everybody at Deceuninck - Quick-Step wishes Mark a speedy recovery."
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The incident occurred after a series of events sparked the eventual crash. Gerben Thijssen briefly lost control of his bike after he slipped on a seemingly wet part of the track, causing Kenny De Ketele to take evasive action and swerve upwards.
Lasse Norman Hansen consequently crashed into the back of De Ketele, while Cavendish then collided with the Danish rider, unable to avoid him.
Cavendish managed to get to his feet at the Kuipke Velodrome and wave to the crowd before being taken to Ghent University Hospital on a stretcher.
The Manxman's Deceuninck - Quick-Step team updated fans on the condition of their rider on Sunday night, stating he had been taken to hospital for investigations. Cavendish's wife Peta, who was in attendance at the Ghent Six, also shared an update on Twitter on Sunday night, thanking the medical staff for helping her and her kids at the event.
She said: “Mark is spending the night in ICU following today’s crash. Thank you to all the medical staff that helped us today and also to the Deceuninck-Quick-Step staff that sprung into action to help me and the kids.”
Jasper de Buyst, who was leading the race at the time of the crash, claimed he had noticed the water on the track the lap beforehand but managed to avoid it by passing at a slightly slower speed.
The crash caused a 40-minute delay in proceedings, leaving Cavendish's teammate Ijoe Keisse to continue solo. Hansen, also involved in the crash, managed to continue however, re-joining his teammate Michael Mørkøv.
De Ketele and Robbe Ghys emerged victorious though, winning the final event of the six-day competition to secure the overall classification.
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