Due to an increasing demand for on-sensor biosignal processing in wireless ambulatory applications, it is crucial to reduce the power consumption and hardware cost of the signal processing units. Discrete Wavelet Transform (DWT) is very popular tool in artifact removal, detection and compression for time-frequency analysis of biosignals and can be implemented as two-branch filter bank. This work proposes a new, completely multiplier free filter architecture for implementing Daubechies wavelets which targets Field-Programmable-Gate-Array (FPGA) technologies by replacing multipliers with Reconfigurable Multiplier Blocks (ReMBs). The results have shown that the proposed technique reduces the hardware complexity by 25 % in terms of Look-up Table (LUT) count and can be used in low-cost embedded platforms for ambulatory physiological signal monitoring and analysis.