You should be able to transform the context using something similar to the following:
CGContextSaveGState(bitmapContext);
CGContextTranslateCTM(bitmapContext, 0.0f, originalImage.size.height);
CGContextScaleCTM(bitmapContext, 1.0f, -1.0f);
// Draw here
CGContextDrawImage(bitmapContext, CGRectMake(0, 0, originalImage.size.width, originalImage.size.height), oImageRef);
CGContextRestoreGState(bitmapContext);
The translation may not be necessary for the image drawing, but I needed it when I wanted to draw inverted text. If this is the only thing you'll be doing in the context, you might also be able to get rid of the calls to save and restore the context's state.