Oct 30 (Reuters) - Hip implant maker Zimmer Biomet ( ZBH )

lowered its annual profit forecast on Wednesday

following last month's disruptions to a software platform that

was managing some of the company's operations.

Zimmer Biomet ( ZBH ) said in September it had to replace its

enterprise resource planning (ERP) system due to "usual

glitches". The system was used to manage the company's

day-to-day business activities, including accounting and supply

chain operations.

The cut to the company's profit forecast comes amid

heightened investor expectations around medical device makers'

financials in recent quarters as more people, especially older

Americans, opt for non-urgent surgeries such as hip and knee

replacements.

Zimmer Biomet ( ZBH ) now expects 2024 adjusted profit between $7.95

and $8.05 per share, down from its prior forecast range of $8.00

to $8.15 per share.

It also forecast annual revenue to grow between 3.5% and 4%,

versus its previous range of 4% to 5%.

The company had previously said that it expects the ERP

software issues to hit revenue by 1% this year, with more than

half of its effect coming in the third quarter.

Zimmer Biomet ( ZBH ) reported revenue of $1.82 billion in the third

quarter, compared with the average analyst estimate of $1.80

billion, according to data compiled by LSEG.

Baird analyst Jeff Johnson said the company's revenue growth

slowed by 1.5% mainly due to the ERP software issues.

Quarterly sales at Zimmer's unit which sells knee implants

rose 5.5% to $745.1 million, while sales at its hip implant unit

increased 3.5% to $481.5 million.

Peer Stryker Corp ( SYK ) on Tuesday raised its annual

profit forecast betting on robust demand for its hip and knee

implants.

On an adjusted basis, Zimmer Biomet ( ZBH ) earned $1.74 per share

in the third quarter, in line with estimates.