STUDIO CITY (CBSLA.com) — Authorities say a suspect has been taken into custody following a hit-and-run crash involving an elderly man in Studio City.

The Los Angeles Fire Department says firefighters received a call of the accident around 1:18 p.m. Friday.

READ MORE: CHP Motorcycle Officer Involved In Traffic Collision On Eastbound 105 Freeway At Bellflower Boulevard

The crash occurred at Valley Spring Lane and Laurel Canyon Boulevard as the victim was exiting his vehicle.

READ MORE: First Weekend Eligible Adults Can Receive Pfizer's COVID-19 Booster Shot

The victim, identified as a man in his 70s, was transported to an area hospital with serious injuries.

MORE NEWS: Man Shot And Killed By Huntington Police Saturday As Nearby U.S. Open Of Surfing Was Underway

Police said the man, although in critical condition, is expected to survive.