yum install libtool mysql-devel freetype-devel ghostscript ghostscript-devel libwmf-devel jasper-devel lcms-devel bzip2-devel librsvg2 librsvg2-devel libtool-ltdl-devel libXt-devel libtiff-devel libjpeg-devel libpng-devel glib2-devel fontconfig-devel zlib-devel ImageMagick-devel
cd ImageMagick
./configure --prefix=/usr/local
wget ftp://ftp.imagemagick.org/pub/ImageMagick/ImageMagick.tar.gz
cd ImageMagick
./configure --prefix=/usr/local
make && make install
export PKG_CONFIG_PATH="/usr/local/lib/pkgconfig"
in my .bashrc file to pick up MagickCore.pc, then created two symlinks:
ln -s /usr/local/include/ImageMagick/wand /usr/local/include/wand
ln -s /usr/local/include/ImageMagick/magick /usr/local/include/magick
gem install rmagick