A 46-year-old London man is facing several charges after an altercation that sent another man to hospital with stab wounds.

Emergency crews were called to the area of Horton and Wellington streets on Wednesday morning for reports of a stabbing.

Police say a 56-year-old man suffered multiple stab wounds during an assault and was assisted at a nearby business before being taken to hospital with non-life-threatening injuries.

The victim and the accused were reportedly known to each other.

The accused was identified quickly and taken into custody on Wednesday afternoon.

He has since been charged with aggravated assault, breach of probation and drug possession.