Or heard it and saw the immediate aftermath. Waiting for our lights to turn green (cyclist just in front of me) and just as we move off there's a horn and skid to the left, followed by a rather sickening thump. Looking round there's a bundle lying in the bus lane and a taxi stopped in the normal traffic lane (bus lane has parked cars in it further down). The bundle gets to her feet of her own accord, but holding a shoulder and looking completely spaced (as you would be after being hit by a car). 3 or 4 people run to her (if there was one thing I took from this it was the immediate willingness of people to help) and the cyclist in front of me abandons his bike to run over as well. I get off and seeing a group of people already helping her sit down on a window-ledge of a shop I tuck my bike away to the side and fetch that of the cyclist from in front of me, who thanks me for my frankly tiny contribution.
Given the crowd around her (she's now sitting, still in a daze, and blood coming from her nose), and the taxi driver walking from his cab towards the group I figure there's little else I can do (especially given I didn't see the actual incident) I set off gingerly on my way.
I don't think the cab had taken a chance at the lights, and from memory, in the rain-induced gloom he had his lights on. I'm 99% sure the girl had simply walked out into the road without looking, and the car will have hit at around 25-30mph.
Afterwards I wondered if I should have at least left my details, but the number of people around will have actually seen what happened, and given her state one more body fussing about was unlikely to help. First time I've ever actually been close to something like that happening and I'll be happy if I'm never as close again.