By Kristen Poland

GREENWOOD — When Dewey Yeargin, owner of Realastic Prosthetics, a division of Health Related Products Inc., realized he couldn’t grow his business significantly by exporting his products he decided to do the next best thing—sell his technology.

Because his products—realistic-looking silicone coverings for mechanical prosthetic limbs, as well as passive and partial prosthesis—are highly specialized, made-to-order products, they don’t lend themselves to high volume sales. In addition, the products are too costly for many smaller countries’ health care to cover the cost to import them.

Still, there is a fairly solid market for Yeargin’s products because few other businesses of that type exist in certain areas of the world. In order to take advantage of the existing international market, Yeargin realized he would have to come up with a way to make his products affordable for smaller countries. The best way to do that, he decided, was to sell his technology in order for smaller countries to be able to manufacture the products themselves. Supplies and labor would both be less expensive and, of course, import costs would be eliminated.

“I am really surprised that more countries don’t have this technology, but I guess the focus is just not there,” Yeargin said. “But everyone in the world who has a deformity or amputation wants these products so they can look whole again.”

While unconventional, Yeargin’s approach to exporting is reflective of the innovation used by so many companies delving into international business today. Since the market has steadily shifted to a global one, it has become increasingly lucrative for small- and medium-sized businesses to export their goods or services.

Yeargin’s technology transfer program assists in setting up a completely independent, licensing- and technology-free business. The agreement includes on-site training at the Realastic facility located in Greenwood, a copy of the company’s operations manual, assistance in locating supplies, a list of necessary equipment and a set of molds to begin operations. For an additional cost, Realastic will provide support at the purchaser’s facility, as well as future assistance and new technology.

Buyers have to agree not to resell the technology and also not to sell the products in the United States or any other countries other than the country specified in the sale agreement, he said.

Yeargin is initially working with Latin American countries including Guatemala, El Salvador, Chile and Peru, and has also identified several eastern countries including India, Pakistan and Bangladesh as other potential markets.