<?xml version="1.0"?>
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    <schemaVersion>X0708</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001742777</cik>
        <entityName>NewSpring Health Capital III, L.P.</entityName>
        <issuerAddress>
            <street1>555 E. LANCASTER AVENUE</street1>
            <street2>THIRD FLOOR</street2>
            <city>RADNOR</city>
            <stateOrCountry>PA</stateOrCountry>
            <stateOrCountryDescription>PENNSYLVANIA</stateOrCountryDescription>
            <zipCode>19087</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>610-567-2380</issuerPhoneNumber>
        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2017</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>-</firstName>
                <lastName>NSH III GP, L.P.</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>555 E. Lancaster Avenue</street1>
                <street2>Third Floor</street2>
                <city>Radnor</city>
                <stateOrCountry>PA</stateOrCountry>
                <stateOrCountryDescription>PENNSYLVANIA</stateOrCountryDescription>
                <zipCode>19087</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>General Partner</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>-</firstName>
                <lastName>NSH III GP, LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>555 E. Lancaster Avenue</street1>
                <street2>Third Floor</street2>
                <city>Radnor</city>
                <stateOrCountry>PA</stateOrCountry>
                <stateOrCountryDescription>PENNSYLVANIA</stateOrCountryDescription>
                <zipCode>19087</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>General Partner of the General Partner</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>-</firstName>
                <lastName>NSH III Management Company, LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>555 E. Lancaster Avenue</street1>
                <street2>Third Floor</street2>
                <city>Radnor</city>
                <stateOrCountry>PA</stateOrCountry>
                <stateOrCountryDescription>PENNSYLVANIA</stateOrCountryDescription>
                <zipCode>19087</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Management Company</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Brian</firstName>
                <middleName>G.</middleName>
                <lastName>Murphy</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>555 E. Lancaster Avenue</street1>
                <street2>Third Floor</street2>
                <city>Radnor</city>
                <stateOrCountry>PA</stateOrCountry>
                <stateOrCountryDescription>PENNSYLVANIA</stateOrCountryDescription>
                <zipCode>19087</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Partner of the General Partner</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Kapila</firstName>
                <lastName>Ratnam</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>555 E. Lancaster Avenue</street1>
                <street2>Third Floor</street2>
                <city>Radnor</city>
                <stateOrCountry>PA</stateOrCountry>
                <stateOrCountryDescription>PENNSYLVANIA</stateOrCountryDescription>
                <zipCode>19087</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
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            </relatedPersonRelationshipList>
            <relationshipClarification>Partner of the General Partner</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Bruce</firstName>
                <middleName>L.</middleName>
                <lastName>Downey</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>555 E. Lancaster Avenue</street1>
                <street2>Third Floor</street2>
                <city>Radnor</city>
                <stateOrCountry>PA</stateOrCountry>
                <stateOrCountryDescription>PENNSYLVANIA</stateOrCountryDescription>
                <zipCode>19087</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Partner of the General Partner</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>-</firstName>
                <lastName>NewSpring Capital, LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>555 E. Lancaster Avenue</street1>
                <street2>Third Floor</street2>
                <city>Radnor</city>
                <stateOrCountry>PA</stateOrCountry>
                <stateOrCountryDescription>PENNSYLVANIA</stateOrCountryDescription>
                <zipCode>19087</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Private Equity Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <revenueRange>Decline to Disclose</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06b</item>
            <item>3C</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0000902664-18-002595</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2018-06-18</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>0</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>89470100</totalOfferingAmount>
            <totalAmountSold>89470100</totalAmountSold>
            <totalRemaining>0</totalRemaining>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>63</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse>The fund charges a management fee that is described in the fund's offering documents.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>NewSpring Health Capital III, L.P.</issuerName>
                <signatureName>/s/ Jonathan S. Schwartz</signatureName>
                <nameOfSigner>Jonathan S. Schwartz</nameOfSigner>
                <signatureTitle>CFO of NSH III GP, LLC, Gen. Ptnr. of the Gen. Ptnr.</signatureTitle>
                <signatureDate>2020-03-04</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
