Wells Fargo Insurance Services Inc., the insurance brokeragesubsidiary of San Francisco-based Wells Fargo & Company, saidit has acquired Carmel, Ind.-based American Med-Scan Inc. Financialterms were not released.

According to a Wells Fargo spokesman, Fred Day and a partnerfounded American Med-Scan in 1986. Mr. Day bought his partner outin 1997 and expanded the agency at that time. The agency consistsof a total of five employees.

The agency is an employee benefits consulting firm thatspecializes in small group medical insurance programs (less than 50lives), life and disability, retirement plans, and other areas ofbenefits planning and consulting.

Mr. Day and the rest of the American Med-Scan team will continuetheir responsibilities with Wells Fargo Insurance Services, foldingtheir existing operations into the Wells Fargo Indianapolis office,the spokesman said in an e-mail.

“We want to offer expanded services and support to AmericanMed-Scan's customers as we continue to expand in the Indianapolisarea,” John M. Murphy, managing director of Wells Fargo InsuranceServices' office in Indianapolis, said in a statement.

Dave Zuercher, president and chief executive officer of WellsFargo Insurance Services, said the acquisition reflects the firm'sstrategy of “combining our national resources with great localagencies” and the firm will continue to “look for agencyacquisitions that fit our vision, values and geographic needs.”