Wolverhampton Police Superintendent Keith Fraser, said: "Our officers knew there was an armed man behind the front door of that flat; they acted swiftly and with huge courage to quickly gain entry and later detain the man".
Another woman has been taken to hospital with critical stomach wounds.
Whilst a police officer was treated with minor injuries and later released.
According to the BBC, West Midlands Ambulance Service said it was dealing with a "serious incident" in Penn and was treating "a number of patients".
"Another woman was taken on blue lights to the major trauma centre at the Queen Elizabeth hospital Birmingham with potentially life-threatening stab wounds".