A Hato Hone St John spokeswoman said they were notified of the incident at The Forge gym in Bond Street at about 12.10pm.
One ambulance attended the scene.
"Our crew assessed and treated one patient who was transported to Dunedin Hospital in a serious condition."
A Fire and Emergency New Zealand spokesman said a crew of four people attended the scene.
The Forge advertises itself as "Dunedin's premier destination for grappling and jiu jitsu".