While I don't have any hard evidence to back up my claims, I would tend say no. Reason being is that we are mammals and some mammals live in the ocean like seals. Their bodies have the same reaction to diving than ours [0] and it certainly does them no harm. Sure they are more efficient and better adapted, but the underlying physiological principles are the same.

[0]: https://en.wikipedia.org/wiki/Diving_reflex