Richer suffered head trauma and upper spine fractures but her doctors are optimistic.
Radio-Canada released a statement saying she's not expected to suffer permanent damage but there will be months of convalescence and rehabilitation before she can return to work.
Michel Cormier, head of TV News and Current Affairs at Radio-Canada, said the entire team is in shock.
He wished Richer and her loved ones all the courage they'll need along the road to a full recovery.
Cormier also said he is convinced Richer will return to hosting Sous La Loupe on RDI and co-hosting Radio-Canada's investigative program Enquête, though she will not be back when the new season starts this fall.
Richer has been a legal affairs reporter for more than 20 years and recently started a new role, co-hosting Enquête with colleague and friend Marie-Maude Denis.
Denis tweeted about Richer's accident Sunday, including a photo of Richer's helmet.
"(It) saved her life, tell your cyclist friends," Denis tweeted.
Denis also asked people to send Richer positive energy.
Colleagues in the CBC Montreal newsroom are also in shock.
Many CBC journalists point out Richer is not only a talented and trusted journalist, but also one who goes out of her way to help colleagues and mentor reporters who are new to covering legal affairs.