I think it's done through adobe illustrator, it has functions in that program to solve what you ask.
Nonetheless, you can achieve that in photoshop, but will need to do it manually with some angle calculation and manual placement:
1. Create a line with the wordings
and upside down version of
2. Adjust the rotation anchor point to the left depending on your choice of diameter
3. Make a copy (duplicate), set rotation to +90 degree.
4. Then start making few copies filling in between the spaces, you can do it manually according to your visual judgement or by mathematical calculation
ie: 90degrees/(how many lines in between you want +1) = (how many degrees for each lines)
5. Finish a sample of a quarter, copy the quarter 3 times, to form a complete circle.
I guess that's how I would do it. It's a bit cumbersome.