"Shark Tank" star Kevin O'Leary was involved in a boating accident in Ontario, Canada, that has left two people dead.

The accident occurred around 11:30 p.m. Saturday on Lake Joseph, according to the Ontario Provincial Police.

O'Leary, his wife and a third person were on the boat when it reportedly rammed into a larger boat, went over its bow and struck a man in the head, according to TMZ.

The man, identified as Gary Poltash, 64, from Florida, was killed, Ontario police said in a news release.

A woman who was also on the boat, Susanne Brito, 48, from Markham, Ontario, was initially hospitalized in critical condition. Ontario police said Wednesday that she had died of her injuries.

Three other people were injured in the collision, treated at the hospital and released, police said.

O'Leary, an entrepreneur from Canada, said in a statement that he was "devastated" by the crash and sent his "heartfelt prayers and condolences" to the victims and their families.

"On late Saturday night, I was a passenger in a boat that was involved in a tragic collision with another watercraft that had no navigation lights on and then fled the scene," he said.

"Out of respect for the victims' families and to fully support the ongoing investigation I feel it is inappropriate to make further comments at this time," O'Leary added.

O'Leary owns the boat involved in Saturday's collision. His spokesperson told NBC News that O'Leary's wife, Linda, was driving at the time of the accident and she was administered a DUI test and passed.

The third person on O'Leary's boat was injured and went to the hospital for stitches. She has since been released, the spokesperson said.

According to TMZ, the vessel was seized by police for forensic testing.

A police spokesperson said the collision remains under investigation, and no charges have been filed.