This paper investigates the use of stable system inversion to design controllers for the simultaneous stabilization of multi-input multi-output systems. A parameterization of all simultaneously stabilizing controllers for systems admitting a stable inverse is develiped. The controller is shown to have the structure of a generalized observer. For strictly proper systems, an intermediate step of the design requires solving a sequence of strong stabilization subproblems. For systems with components having identical stable minimum phase transfer functions, the design requires only a single model of the component in the controller. In systems where a stable inverse fails to exist, an interpolation scheme is proposed to develop a stabilizing controller.