The victim was visited by four men who said they were workmen who wanted to carry out work on his property in Balshaw Crescent at around 8am today (January 22).
When he declined their offer and closed the door, the men reportedly went round to the back of his house and smashed their way through a window
Police said they do not know how many of the men entered the home, but they do know the property was searched and the homeowner was hit in the head with a metal bar.
The victim has been taken to hospital for treatment where his condition has been described as stable.
One man was arrested at the scene and three others were arrested in the Blackburn area later this morning on suspicion of aggravated burglary.
An orange Honda Jazz which police believe was involved in the incident has also seized.
But officers said they have also been made aware of a second incident which they believe may be linked to the same group.
At around 9:05am on Eaves Lane in Chorley, a man knocked on the door of a property before forcing his way inside, stating the victim owed him money.
The victim then went to a nearby shop before withdrawing cash, handing it over to the suspect.
"To have targeted these elderly, vulnerable people in their homes, where they should feel and be most safe, is truly appalling and especially callous," Chief Insp Chris Abbott, from the Chorley & South Ribble Neighbourhood Policing Team, said.
"I want to reassure you that we are treating what happened extremely seriously. Thankfully we were able to make arrests quickly and, as a result, four men have been detained in custody.
"I appreciate that these incidents will have caused concern in the community and so I would like to reassure people that we have extra officers in Leyland and Chorley, close to these crimes took place, for anyone with information or concerns to come and speak to us."
If you have any information about either of the incidents, call police 101 quoting incident reference number 223 for the Leyland burglary, or 315 for the Chorley incident.
Chief Insp Chris Abbot added: "We know that at the moment, the elderly and vulnerable are home more and so are easy targets for criminals. Please check-in with people like this that you know so they are not completely isolated.
"If there is anybody you are aware of in the South Ribble and Chorley area who are especially vulnerable or may have been a victim of this type of crime, please let us know and we can speak to them."
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