<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0708</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0002061619</cik>
        <entityName>TPG Healthcare Partners III, L.P.</entityName>
        <issuerAddress>
            <street1>301 COMMERCE STREET</street1>
            <street2>SUITE 3300</street2>
            <city>FORT WORTH</city>
            <stateOrCountry>TX</stateOrCountry>
            <stateOrCountryDescription>TEXAS</stateOrCountryDescription>
            <zipCode>76102</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>(817) 871-4000</issuerPhoneNumber>
        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2024</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>None</firstName>
                <lastName>TPG Healthcare Partners GenPar III, L.P.</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>301 Commerce Street</street1>
                <street2>Suite 3300</street2>
                <city>Fort Worth</city>
                <stateOrCountry>TX</stateOrCountry>
                <stateOrCountryDescription>TEXAS</stateOrCountryDescription>
                <zipCode>76102</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>The Issuer's General Partner</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>None</firstName>
                <lastName>TPG Healthcare Partners GenPar III Advisors, LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>301 Commerce Street</street1>
                <street2>Suite 3300</street2>
                <city>Fort Worth</city>
                <stateOrCountry>TX</stateOrCountry>
                <stateOrCountryDescription>TEXAS</stateOrCountryDescription>
                <zipCode>76102</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>General Partner of the Issuer's GP</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Joann</firstName>
                <lastName>Harris</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>301 Commerce Street</street1>
                <street2>Suite 3300</street2>
                <city>Fort Worth</city>
                <stateOrCountry>TX</stateOrCountry>
                <stateOrCountryDescription>TEXAS</stateOrCountryDescription>
                <zipCode>76102</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Officer of the General Partner of the Issuer's GP</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Steven</firstName>
                <middleName>A</middleName>
                <lastName>Willmann</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>301 Commerce Street</street1>
                <street2>Suite 3300</street2>
                <city>Fort Worth</city>
                <stateOrCountry>TX</stateOrCountry>
                <stateOrCountryDescription>TEXAS</stateOrCountryDescription>
                <zipCode>76102</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Officer of the General Partner of the Issuer's GP</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Jordan</firstName>
                <lastName>Kolar</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>888 7th Avenue</street1>
                <street2>35th Floor</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                <zipCode>10106</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Officer of the General Partner of the Issuer's GP</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Martin</firstName>
                <lastName>Davidson</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>301 Commerce Street</street1>
                <street2>Suite 3300</street2>
                <city>Fort Worth</city>
                <stateOrCountry>TX</stateOrCountry>
                <stateOrCountryDescription>TEXAS</stateOrCountryDescription>
                <zipCode>76102</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Officer of the General Partner of the Issuer's GP</relationshipClarification>
        </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>0002061620-25-000002</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2025-07-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
            <isOtherType>true</isOtherType>
            <descriptionOfOtherType>Limited Partnership Interests</descriptionOfOtherType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>0</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>J.P. Morgan Securities LLC</recipientName>
                <recipientCRDNumber>79</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>390 Madison Avenue</street1>
                    <street2>32nd Floor</street2>
                    <city>New York</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                    <zipCode>10017</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
                <foreignSolicitation>true</foreignSolicitation>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>1111950000</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse>The amount disclosed in Item 13 reflects sales made pursuant to this Rule 506(b) offering. Total commitments to the Issuer and its parallel vehicles from inception to date are $1,125,150,000.</clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>40</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>800000</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse>The figure disclosed above reflects estimated maximum amount payable in respect of the Issuer and its parallel vehicles, and is subject to future contingencies.</clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>TPG Healthcare Partners III, L.P.</issuerName>
                <signatureName>/s/ Martin Davidson</signatureName>
                <nameOfSigner>Martin Davidson</nameOfSigner>
                <signatureTitle>Chief Accounting Officer of the GP of the Issuer's GP</signatureTitle>
                <signatureDate>2025-12-31</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
