Aug 20 (Reuters) - Primary Health Care Ltd PRY.AX :
* ANNOUNCES STRATEGIC GROWTH INITIATIVES, TO BE FUNDED VIA AN UNDERWRITTEN $250 MILLION PRO RATA NON-RENOUNCEABLE ENTITLEMENT OFFER
* 1 FOR 5.21 UNDERWRITTEN ENTITLEMENT OFFER TO RAISE ABOUT $250 MILLION
* SEES EXTRA CAPACITY FROM INITIATIVES TO GENERATE 10-15% UPLIFT IN AVERAGE GROSS BILLINGS PER HOUR BY FY21
* PRIMARY IS IN EXCLUSIVE NEGOTIATIONS TO ACQUIRE AN OPERATOR OF DAY HOSPITALS ACROSS A NUMBER OF STATES
* ABOUT 100 MILLION NEW SHARES WILL BE ISSUED UNDER ENTITLEMENT OFFER AT A PRICE OF $2.50 PER NEW SHARE
* UNDER INDICATIVE DEAL TERMS, PRIMARY TO MAKE UPFRONT PAYMENT OF $75 MILLION