The accident happened Monday afternoon on his Buckinghamshire estate, where Osbourne had been taking a break from promotional duties for a duet with daughter Kelly.
He was taken to nearby Wexham Park Hospital, where, according to a statement from his US publicists, the singer underwent surgery to lift his collarbone, believed to be resting on a major artery interrupting blood flow to his arm.
The unlikely-named Dr Dick Jack reported that the injuries were "not a major problem."
Osbourne spent the night in intensive care and is now in a stable condition.
News of the accident ends an eventful year for the sometime Black Sabbath frontman and star of 'The Osbournes'. His wife, Sharon, survived a cancer scare, his son Jack went into rehab, and more recently Ozzy suffered from tremors which indirectly forced the cancellation of a European tour.
Everyone at DiS hopes that the bat-biting one will be back on his, er, bike real soon.