Apparatus is provided for processing an analysis slide in a chemical analyzer which is particularly suitable for performing both endpoint and rate analyses. The slide-processing apparatus comprises a slide transfer mechanism for selectively transferring analysis slides between an incubator and a read station. The incubator includes a temperature-controlled chamber having a rotor disposed in a horizontal plane therein comprising slide-holding members adapted to support each of a plurality of analysis slides at individual stations. Each of the individual stations may be selectively positioned to a transfer location wherein the slide carried by the rotor is accessible for removal. The slide transfer mechanism accesses the slide at the transfer location, removes the slide from the incubator, and delivers the slide to the read station. Following analysis at the read station, the slide is returned by the slide transfer mechanism to the incubator if the slide is being employed for rate analysis. If the slide is being used for endpoint analysis, the slide is discarded through a diverter portion of the slide transfer mechanism.