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Gilbert underwent a procedure at a Detroit-area hospital after he was admitted on Sunday. He is currently recovering in the intensive care unit.
"Dan is awake, responsive and resting comfortably. Dan and his family are immensely grateful to the doctors and nurses whose early intervention is already paying dividends toward his recovery," Farner said in a statement. "We will update the public as additional details become known."
Quicken Loans first addressed Gilbert’s condition on Sunday, noting that he “received immediate medical attention” after experiencing stroke-like symptoms. The Gilbert family requested privacy as he recovers.
Gilbert, 57, co-founded Quicken Loans in 1985 and serves as chairman of both that firm and its holding company, Rock Ventures. He has also owned the Cavaliers basketball team since 2005, as well as naming rights to their stadium, the Rocket Mortgage FieldHouse.
Under Gilbert’s leadership, the Cavaliers won the NBA title in 2016. He has a personal net worth estimated at $7.3 billion, according to Forbes.