Michael Madsen Little Crazy? Yes. Suicidal? No!

5/23/2010 2:37 PM PDT

Michael Madsen: Little Crazy? Yes. Suicidal? No!

Michael Madsen was taken to the hospital in London after a night of drinking -- but reports of him being placed on suicide watch are "not even close" ... sources tell TMZ.

We're told Madsen did have "an incident" -- boozing, followed by an ambulance ride, followed by several attempts to escape the ambulance -- but a source close to the actor says it was "nothing even close to suicide watch," adding, "He would never do that."

We're told Madsen is already on his way back to the States.

Back in 2008, Madsen was taken to a hospital on a 5150 hold.