Credit: TMZ

Troubled funnyman David Arquette, 39, is okay following a frightening head-on collision in L.A. Friday afternoon, his rep tells

"He's fine," says the rep. "He is on his way to be treated.  

As first reported, the Scream 4 actor was driving a silver Cadillac when a car in front of him stopped short. Arquette swerved to avoid hitting the vehicle and plowed into a car heading in the opposite direction.

A bleeding Arquette was taken from the scene via ambulance. 

In January, Arquette, who split with wife Courteney Cox in October, did a stint at rehab for "alcohol and other issues" following a public meltdown on Howard Stern's radio show.