The incident has occurred near to the DPD depot, between the junctions for Blackwater Hollow and Merstone Lane.
Police, fire and ambulance crews are all racing to the scene having been alerted to the crash at around 10:10.
Traffic is said to be heavy in the area and cars are being forced to turn around. The road has been closed in both directions.
Southern Vectis have confirmed that buses will not be able to serve Merstone until further notice, instead they will divert via Rookley.
UPDATE @ 10:42 – Multiple emergency service vehicles are present at the scene of what is thought to be a crash involving 2 cars.
Blackwater Road has been closed to all traffic in both directions.
UPDATE @ 11:05 – A suspected medical episode at the wheel, which resulted in 1 car travelling on the wrong side of the road, is said to be the cause of the crash.
The driver of a Vauxhall Zafira has been taken straight to hospital following the incident. Meanwhile, fire crews from Newport have extricated 2 people from a 4×4 style vehicle which was travelling towards Arreton when it was hit by the oncoming car.
Recovery of the vehicles has been arranged. The road is expected to reopen in due course.
It has been confirmed to Island Echo that there were reports of another collision further up the road near to DPD.
UPDATE @ 12:26 – Blackwater Road has now re-opened in both directions.