UPDATE, 3:56 PM, 3/3/13
Albany Police are not releasing the name of the suspect at this time due to the fact that they have yet to charge him with anything regarding the incident last night.
Police say the suspect is in custody at the Dougherty County Jail, however he is being detained due to unrelated charges.
Stay connected to mysouthwestga.com and FOX 31 News for more on this story as it develops.
An Albany man stabbed his roommate, 41-year-old Patrick Rambone, outside their house on Pace Street. The suspect then took off on foot into the nearby woods.
Police say that Rambone was brought to Phoebe Putney Memorial Hospital after being stabbed in the arm and ribcage.
Officials say they were able to locate the suspect in the woods after the incident. He was taken into custody for questioning; charges are still pending.