Integra LifeSciences (NSDQ:IART) said today that it plans to deal some of its neurosurgery assets to Natus Medical (NSDQ:BABY) for nearly $48 million, contingent on the consummation of its $1 billion buyout of the Codman Neurosurgery business from Johnson & Johnson (NYSE:JNJ).

Plainsboro, N.J.-based Integra said the sale to Natus includes its line of Camino intracranial pressure monitoring devices and the San Diego plant that makes them, plus rights and assets for its fixed pressure shunts and the rights to Codman’s Duraform, standard external ventricular drain catheters and cerebrospinal fluid collection devices. The products to be sold put up revenues of about $50 million last year, slightly more than Integra’s $47.5 million asking price.

“This agreement is an important step toward the completion of Integra’s acquisition of Codman Neurosurgery,” president & CEO Peter Arduini said in prepared remarks. “We remain committed to ensuring a smooth and orderly transition for our customers and employees.”

Integra said it expects Codman Neurosurgery to add 22¢ to adjusted earnings per share next year, with “minimal contribution” this year. The business is forecast to deliver roughly $60 million to the top line during the fourth quarter, following the expected closing of the deal in next month, net of the expenses incurred by the sale to Natus.

“This estimate reflects some initial disruption resulting from the acquisition as well as the phasing of revenue resulting from the planned transition in certain countries outside the U.S.,” the company said.

Full-year revenues for Codman Neuro are pegged at $290 million and $300 million, again net of the Natus sale, Integra said.