I'm guessing the level of expertise it would take to do this is probably beyond what you really want to be dealing with, but here's a suggestion with the given assumption that you may not find an easier way (and if you do--please use it by all means!). Manipulating graphics is math, all math, and nothing but math. If it's not, it still is, and the only reason it wouldn't be is if someone else has done the math for you--probably what you're looking for.
If it were me I'd use a picture control. You can draw anything in a picture control, any way you want to. In the simplest of implementations, you can load a bitmap from a file and place it on the image wherever you want. Also using a picture control, you can do your drawing (as in, rendering the image--putting the background and bitmap overlays together) in memory--before it's updated to the screen, so that when it is updated, it looks smooth. Back to the problem though...
If you read a bitmap from disk it's just an array of numbers. What you would have to do then is matrix math (not for the faint of heart I guess if you're not too math-oriented, but not impossible either). Rotating the image and placing it on the display would just be a matter of rotating the points in the matrix. Probably easier said than done, but better than no forseeable solution.
Another option less flexible but also much less complex would be to have a limited number of rotated bitmaps that you use... that might work well also. All work done rotating the images would be done beforehand. Pull your image into any kind program (there are lots of them) that can rotate and save a set of images. This would let you index an array of images by rotation angle and place that image at the desired location. Granted... if you want it to be at some odd rotation angle then the first option might work better, but this would work for a simple game or display. Otherwise you wind up having to make a bunch of images to get any angle you want--ie, the # images = 360 / angle -> # images goes up drastically the smaller the angle difference between pictures. That would also take more memory to hold them all, as compared to the first option where you're just rotating an array and coming up with another array.