(CBS News) — USA Gymnastics (USAG) and the U.S. Olympic and Paralympic Committee (USOPC) have agreed to a $380 million settlement with victims of former Team USA doctor Larry Nassar. The agreement also stipulates both organizations must make significant reforms to prevent future abuse.

“These powerful institutions enabled Dr. Nassar to thrive and avoid discovery of his crimes,” Tasha Schwikert-Warren, a former Olympian and a victim of Nassar’s, said Monday in a statement announcing the settlement. “I am proud of my survivor sisters who showed their strength and stepped up to make this settlement possible. What makes me hopeful this will never happen again is the commitment by USAG and USOPC for institutional reform in the bankruptcy plan.”

Nassar — who, in addition to being the team doctor for USAG, also formerly worked as a doctor at Michigan State University, a local gymnastics club and a high school — abused hundreds of female athletes over several decades under the guise of medical treatment. He is currently serving over 100 years in prison after pleading guilty to multiple child pornography and sexual abuse charges.

Click here for more details from CBS News.