Update, 9.41am: Missing man Gerard Carroll, 59, was found trapped chest-deep in water and covered in reeds and mud yesterday.
At 1.15pm a crew member form the Westpac Life Saver Rescue Helicopter spotted the man in a waterway not far from the Tweed Heads West retirement home where Mr Carroll was a resident.
Tweed-Byron LAC Inspector Jim Kain said it was a serious situation.
"The location was surrounded by dense scrub and lantana and couldn't be reached by a land team, so Mr Carroll had to be winched out by the lifesaver 4 helicopter crew," he said.
"He was very lucky he was seen by the crew considering the dangerous situation he was in," Insp Kain said.
Mr Carroll is in a stable condition at Tweed Heads Hospital.
Initial report 11.08am, Saturday: Police are appealing for help in finding a man who went missing from Tweed Heads yesterday.
Police attached to Tweed Heads Local Area Command are appealing for public assistance to locate 59-year-old Gerard Carroll who was last seen about 1pm on Saturday 23 February 2013, on Stott Street, Tweed Heads, where he lives in a retirement village.
Gerard is described as being of Caucasian appearance, 175 to 186cm tall, thin build, balding with grey hair, and brown eyes.
At the time of his disappearance he was wearing a blue jumper, jeans and either sandals or thongs.
Police have concerns for his welfare as he suffers from a medical condition. They are appealing for residents in the Tweed Heads region to keep a lookout for the man.
Anyone with information about this incident should call Tweed Heads police via Crime Stoppers on 1800 333 000 begin_of_the_skype_highlighting 1800 333 000 FREE end_of_the_skype_highlighting or use the Crime Stoppers online reporting page: https://www1.police.nsw.gov.au/. Information you provide will be treated in the strictest of confidence. We remind people they should not report crime information via our Facebook and Twitter pages.